Namibia is a Sub-Saharan country located between the Kalahari and Namib deserts in Southern Africa. The nation covers a land area of about 825, 615 square kilometers and is bordered by South Africa, Zambia, Botswana, and Angola.
The country is the fourth-largest uranium producer in the world. Its economy relies heavily on mineral extraction and processing for export. Alluvial diamond deposits are abundant, making the country a leading producer of gem-quality diamonds. Nevertheless, only 3% of the population is employed in the mining industry and about 40% depends on agriculture.
The country’s economy is pegged to South Africa, drawing 40% of the national budget revenues from the Southern African Customs Union. In 2007, Namibia’s budget resulted in a surplus due to higher payments to the union. The economic crisis of South Africa caused SACU allotments to drop in 2010 and 2011.
In 1993, the Bank of Namibia was formed and the Namibian dollar was established. The currency replaced the South African Rand. The bank issued banknotes printed by Tumba Bruk of Sweden in denominations of 10, 50, and 100 dollars. The obverse of these notes features the Parliament and Kaptein Hendrick Witbooi who fought against the Germans. The reverse depicts Namibia’s wildlife.
Namibian banknotes issued between 2011 and 2019 still bear the portrait of Kaptein Hendrick Witbooi with the exception of the 10 and 20 dollars that now feature the founding president of the Namibian nation, Sam Nujoma. These banknotes were the first in the world to ever use Oberthur Technologies’ new security features such as the glossy Securicoat and the color-shifting Janus windowed security thread that reflects the denomination and the bank’s initials. Additionally, the registration device in the form of a Diaphan transforms into the bank’s initials and the iridescent frame becomes opaque when the note is held up to a light source.