In reviewing the implementation of the Bank’s cash handling strategy, the average overnight notesheld-to-order limit for commercial banks was increased, the service arrangements for Mpumalanga and Limpopo provinces were terminated, and a levy was introduced on banknotes deposited and withdrawn by banks. The Bank’s seven branches have met all the distribution and circulation requirements of banks and the cash industry.
The overall productivity of the branches has kept track with established requirements and their processing of banknotes averaged 95 per cent of the installed capacity. Strategies to combat the counterfeiting of banknotes and coin are being developed. In line with international best practice, the Bank will enhance the security features of banknotes in the near future to deter counterfeiting.