New R5 coin in honour of OR Tambo

The South African Reserve Bank (SARB) and the South African Mint alongside the Oliver & Adelaide Tambo Foundation have launched the new coin in honour of struggle stalwart Oliver Tambo. 

The launch was held at the OR Tambo cultural precinct in Wattville in Benoni. 

Collectable coins have also been unveiled.

The collectables were designed to represent the different stages of Tambo's life in the struggle against the apartheid regime. 

Reserve Bank governor, Lesetja Kganyago was among the speakers. 

He says Tambo's life was integrity, trust and accountability personified.

"Integrity, trust and accountability also matter a great deal to the South African Reserve bank and indeed it matters more around the community of central banking. Other central banks elsewhere in the world will always tell you about the integrity they stand for and strive for," Kganyago says. 

He says the SARB does its work without fear or favour. 

"We ensure that the buying power of the currency is protected. When some among us demand that we must open the flood gates of inflation, what they are actually demanding is that we must erode public trust and confidence in the currency. 

"As the history of money globally shows, when inflation walks through the door, public trust in the currency jumps out of the window. Then bank notes and coins become nothing but worthless pieces of paper and metal," he explains. 

The son of the struggle icon, Dali Tambo described the launch as a beautiful moment. 

"This year has seen all kinds of expressions of public memory of him and today is one of the finest in my opinion. The coins that have been produced are not only beautiful but they are a platform of heritage and remembrance. They are an expression of our care and committed to the values and ideals of which my father stood for," he says.