Sweden to print South African bills
Looks like the South African Reserve Bank has outsourced the printing of 8 million South African rand ($1.25 billion) in rand bills. The move follows last May's discovery that a key security feature was missing from the R100 notes being printed by the SA Bank Note Company (SABN). The mistake—which was found in notes dating back as far as 2003—was due to a fault in one of SABN's machines. Now the Swedish banknote paper-making and printing company, Crane AB, is producing the R100 notes. Sources tell the South African newspaper Sunday Times that the decision to print elsewhere was taken even though the machine had been fixed.
The rand is the currency of South Africa, taking its name from the Witwatersrand, the ridge upon which Johannesburg is built. The rand, identified by the symbol “R,” is subdivided into 100 cents. Some rand bills will now be printed by Swedish banknote paper-making and printing company, Crane AB.