Swaziland Government Bonds Issuances

October 16, 2014

Statement on the collection and sale of 50th anniversary E5 commemorative coin

It has come to our attention that there are people going around the country collecting the 50th anniversary E5 commemorative coin (now commonly referred to as the 50/50 coin) as representatives of the Central Bank of Eswatini (CBE), claiming the coin has been recalled. The imposters make the collections from retailers in bulk units and go around selling them to individuals, giving them the impression that they will get a better compensation from CBE.

The recent increase in the number of enquiries received by the Bank on the rumoured sale and collection of the E5 commemorative coin or other unsolicited communications purportedly originating from, or implying an affiliation with the Central Bank has prompted the Bank issue this warning. The Central Bank has not recalled the 50th anniversary E5 commemorative coin, or commissioned anyone to collect and/or sell the coin of behalf of the Bank.

Part of the Central Bank’s mandate is issuing and redeeming currency. The Bank, as empowered by the Central Bank Order of 1974, has the sole right to issue notes and coins which are legal tender within Eswatini. No other person other than CBE shall issue or redeem Eswatini notes or coins or any documents or tokens payable to bearer on demand, having the appearance of or purporting to be currency.

The public is encouraged to circulate the commemorative coin and not keep it with the hope for better compensation in future. The Central Bank is not in the business of buying and selling coins. Our mandate only extends to issuing quality coins/notes and redeeming when necessary. Should you want to exchange your coins, we only give you coins equivalent to what you have brought to us.

The E5 commemorative coin, co-circulating with the current coin series, was issued by the Bank to mark the Kingdom of Eswatini’s 50th Independence Anniversary (Golden Jubilee) and His Majesty King Mswati III’s 50th Birthday. Designed by 14-year old, Mlandvo Motsa, from Mhlatane High School, the design concept is about 50 years of urban and rural development; integration of science and technology; producing enough food through agriculture to feed the nation.

The Bank would like to stress the importance of circulating the E5 commemorative coin along with the current coin series. This helps ensure there is sufficient and secure cash in circulation to meet demand in the country. We count on you to play your role in spreading the word that the Central Bank has not recalled the 50th anniversary E5 commemorative coin, or commissioned anyone to collect, buy and/or sell the coin.

YOU ARE STILL IN GOOD HANDS