Rwandans urged to use less cash to avoid wearing out notes
- Published: Dec 11, 2014, 4 AM
Rwandans are being encouraged to use less of cash in their daily transactions in order to avoid wearing out bank notes, according to a story posted Dec. 4 on allafrica.com.
The directive came from John Rwangombwa, governor of the National Bank of Rwanda. During a news conference Dec. 3, he said many Rwandans today had not adopted the use of innovative platforms like mobile money to purchase items or send money.
“Rwanda still predominantly uses cash which makes money get old faster. Therefore, in order for us to reduce the costs of printing new money each time, we need people to use electronic cards and mobile money while shopping, paying electricity bills, in bars and buying airtime,” he said.
Rwangombwa also commented on the reason for the issuance of redesigned 2,000- and 5,000-franc notes. He said the new bank notes is a routine replenishment of the stock of the banknotes.
Rwangombwa said none of the two bank notes’ designs had been changed apart from the security features of the notes, which have been strengthened, and he noted that the use of French has been dropped.
“Much as French is one of the official languages according to the Constitution, it’s not a must that we use three languages on the notes as long as people are able to use the money comfortably," Rwangombwa said.
The new notes are expected to be in circulation soon, but no firm date was announced by the central bank. When the new notes enter circulation, current notes will begin to be phased out.
More from CoinWorld.com:
US Coins Feb 26, 2024, 3 PM
US Coins Feb 26, 2024, 12 PM
World Coins Feb 25, 2024, 11 PM
Paper Money Feb 25, 2024, 5 PM