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Ethiopia Unveils New Banknotes With Enhanced Security Features

Ethiopia demonetizes banknotes to salvage economy

Ethiopia’s government has rolled out new banknotes with enhanced security features.

The new designs for the 10, 50 and 100 denominations were unveiled along with the introduction of a new 200 denomination note.

The bank notes according to Prime Minister Abiy Ahmed should help curb financing of illegal activities and corruption.

Mr Abiy said in a tweet that the new-look banknotes that have enhanced security features will help combat production of counterfeit notes.

“The new notes will curb financing of illegal activities; corruption & contraband. Enhanced security features on the new notes will also cease counterfeit production.”

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It is yet to be seen if the old notes will be withdrawn immediately from circulation with the introduction of the new ones.

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Written by PH

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