Namibia has undertaken a significant redesign of its currency the most extensive update since its introduction in 1993. The initiative includes updates across various denominations, from the 10 cent coin to the N$200 banknote, aimed at enhancing security features, modernizing designs, and reflecting national values. As part of this initiative, the newly released N$1 coin has sparked public interest and mixed interpretations, prompting a formal response from the Bank of Namibia.
According to the Bank, the N$1 coin was specifically designed to celebrate Namibia’s dynamic retail sector an integral part of the national economy that supports small businesses, empowers households, and fosters entrepreneurship. The visual of two hands exchanging coins on the reverse side represents mutual trade, community connection, and daily economic interaction. It is a tribute to resilience, inclusivity, and economic progress.
However, the Bank acknowledges that the coin has, in some circles, been informally dubbed the “Outere Dollar” a term from the Khoekhoegowab language loosely translated as “give me.” While this nickname was not the Bank’s intention, it has gained popularity online. The Bank clarified that while the term has been recognized in awareness efforts, it is not officially endorsed and should not be interpreted as promoting dependency or begging.
“Our goal,” the Bank stated, “is to highlight the coin’s true message: dignified trade, economic participation, and national unity.” The Bank further emphasized that there was no intent to offend or marginalize any community or culture. Rather, the coin aims to reflect the shared economic experience of all Namibians.
The Bank of Namibia reiterated its commitment to celebrating the country’s cultural diversity while promoting dialogue rooted in understanding and respect. It cautioned against misinterpreting the coin’s design or assigning divisive meanings that detract from its core purpose.
In conclusion, the Bank reaffirmed that the N$1 coin, like all updated currency, stands as a symbol of Namibia’s collective economic strength and forward movement. It called on the public to embrace the spirit of unity and resilience that the currency redesign represents.
