When the decision was made in 1958 to print South African banknotes domestically rather than abroad as was the practice at the time, the Bank and a British banknote printer, Bradbury Wilkinson, established as a joint venture company, the South African Bank Note Company (Pty) Ltd, with the sole objective of printing banknotes for South Africa. Suitable factory premises for printing banknotes were erected and the domestic production of banknotes commenced in 1961 at the time when South Africa adopted a decimal currency.
The shareholding of Bradbury Wilkinson in the joint venture company was subsequently taken over by the Reserve Bank and the South African Bank Note Company (Pty) Ltd is currently one of the four wholly owned subsidiary companies of the Bank. The South African Bank Note Company prints all the banknote denominations currently in use in South Africa it also prints banknotes for neighbouring countries. It has a separate management structure and functions as an independent subsidiary and members of its board are appointed by the board of the Bank.
For further information, please click here: The South African Bank Note Company (Pty) Ltd.