SARB Reports on Mint Performance and New Coin Series

The Reserve Bank of South Africa (SARB) runs the South African Mint as a wholly owned subsidiary. In its 2022/23 annual report it highlighted the issue of the fourth decimal coin series on 3 May 2023, the first new coin series in 34 years. This was delivered at a lower conversion cost than budgeted and with a lower waste rate.

SARB has a mission to ensure the cost-effective availability and integrity of currency, to optimise the currency supply chain and to enhance the integrity of banknotes and coins.

The South African Mint is accredited to the ISO 9001 (quality), 14001 (environmental management) and 45001 (occupational health and safety) standards. It is a founding member of the sustainability sub-committee of the International Mint Directors Association.