The Central Bank of Lesotho (CBL) this week unveiled upgraded Maloti banknotes, marking a significant milestone towards curbing counterfeiting and extending the life of the bills.  

The launch, held at Lehakoe in Maseru and attended by key stakeholders, is part of the global central banking practice of periodically reviewing and enhancing national currency for security, durability, and public confidence.

CBL’s Governor Dr MalukeLetete, described the development as a historic step in Lesotho’s financial journey.

“This is more than a change in design it is a reaffirmation of our commitment, security and trust,” he said, noting that the upgrade aligns Lesotho with international standards in currency management.

Letete highlighted enhanced security as a driving motivation for the new series. With technology rapidly transforming counterfeiting techniques, he said the CBL has integrated state-of-the-art features into the notes, including advanced watermarks, machine-readable elements, and tactile features for visually impaired users.

“These features are designed to protect both consumers and businesses. In this era, counterfeit activity increases quickly, and we must stay ahead,” he said.

The Governor further emphasised the improved material composition of the upgraded notes. The new series is expected to remain in circulation for up to four years, approximately double the lifespan of current notes.

“If your note was taking roughly two years in circulation, this new note launched today will take probably double that. That fundamentally reduces printing costs because a note will take longer before it is damaged,” Letete explained.

Beyond technical upgrades, the new banknotes incorporate design elements that reflect Lesotho’s heritage and identity. Letete stressed that currency is a national symbol of sovereignty and stability, urging Basotho to handle money respectfully.

“No citizen should write on or tear currency, as that threatens our sovereignty,” he cautioned, adding that torn notes should be returned to the CBL for replacement.

He also underscored the importance of inclusivity, highlighting new tactile features enabling visually impaired individuals to identify notes by touch.

“Money does not belong to the wealthy it belongs to all,” he said.

Letete assured the public that old banknotes remain legal tender until further notice. He urged businesses not to refuse them, saying both old and new notes will circulate concurrently. Those uncomfortable handling old notes may exchange them at nearby banks.

To support the transition, the CBL will roll out nationwide public awareness campaigns from January 2026, ensuring communities in all districts understand the new features and best practices for handling the upgraded notes.

CBL’s First Deputy Governor, LehlomelaMohapi, said the upgrade aligns with global standards in currency management.

“This does not affect only the financial sector but the entire population of Basotho and those across the borders,” he said.

Mohapi noted that central banks worldwide periodically refresh banknotes to counter evolving counterfeit threats. Environmental considerations were also key to the redesign, with new materials aligning to modern sustainability standards.

• The launch, held at Lehakoe in Maseru and attended by key stakeholders, is part of the global central banking practice of periodically reviewing and enhancing national currency for security, durability, and public confidence.
• “This is more than a change in design it is a reaffirmation of our commitment, security and trust,” he said, noting that the upgrade aligns Lesotho with international standards in currency management.
• To support the transition, the CBL will roll out nationwide public awareness campaigns from January 2026, ensuring communities in all districts understand the new features and best practices for handling the upgraded notes.

Seabata Mahao is a general news reporter with special focus on Business and Sports. Started working at Newsday in 2021. Working in a team with a shared goal is what I enjoy most and that gives me the motivation to work under any environment leading to growth.