BY NOKWANDA DLAMINI (INTERN)
MBABANE– Experts from the South African Reserve Bank (SARB) held an information-sharing session with the Central Bank of Eswatini (CBE) Currency Division on Tuesday, March 10, 2026 in Mbabane, where they shared strategies aimed at improving cash management and strengthening currency integrity in the region.
The meeting formed part of SARB’s routine visits to central banks within the Common Monetary Area (CMA) and focused on how regional banks can align their approaches to the circulation of the South African rand, reduce the cost of handling cash and address emerging challenges affecting currency management.
During the engagement, the SARB delegation presented details of its Cash Smart Strategy, a programme designed to lower the high costs associated with cash handling and distribution. The strategy seeks to make the movement of cash from the central bank to commercial banks and ultimately to the public more efficient and cost-effective.
Cash management remains a key responsibility of central banks as they ensure that sufficient banknotes and coins are available in the financial system while maintaining security and efficiency in their circulation. Rising operational costs and logistical challenges have prompted central banks across the region to explore smarter ways of managing physical currency.
Another issue discussed during the session was the challenge posed by dye-stained banknotes, which often result from security systems activated during cash-in-transit robberies or attempted theft. SARB Manager for Currency Integrity Enablement, Rhulani Makhubela, explained that measures have been introduced in South Africa to discourage the use and circulation of such banknotes.
He noted that these deterrent measures are aimed at protecting the integrity of currency and preventing criminals from benefiting from stolen cash. Makhubela added that there are plans to extend similar approaches to other CMA member countries to ensure consistency in the handling of compromised banknotes across the region.
CBE Director of Operations, Beverly Mavuso, thanked the SARB team for sharing their expertise and insights with the bank’s Currency Division. She said the engagement would contribute to strengthening knowledge and improving practices in currency management within Eswatini. Mavuso added that the bank looks forward to continued collaboration with SARB in areas related to cash operations and currency management.
The cooperation between central banks in the Common Monetary Area plays an important role in maintaining financial stability and ensuring the smooth circulation of currency across member states.
#CentralBankOfEswatini #SARB #CurrencyManagement
