The 5000 Malawi Kwacha banknote has been named the best new banknote of the year 2022 in Europe, the Middle East and Africa for its design, technical sophistication and security features.
Reserve Bank of Malawi (RBM) Wilson Banda received the award at a ceremony in Lilongwe today held together with G+D, a Germany based company which is the printer of Malawi’s three top banknotes, K1000, K2000 and K5000.
G+D first received the award and later presented it to Banda in Munich, Germany in June. During the ceremony today, G+D Managing Director for South Africa presented the award again to Banda.
According to Banda, the K5000 banknote which was introduced in February this year represents the latest technology in currency printing.
“I wish to thank G+D for the efforts and good collaboration with the Bank to produce the banknote. We are proud of the K5000 banknote because it has made good history for us and the recognition is appreciated,” said Banda.
The G+D Managing Director said creating a new banknote takes time as the banknotes require security features and need to be customized for the needs of the country.
“All the features are implemented on the paper and in printing. To do all that the right way, you have to plan it properly,” he said.
The award was given by High Security Printing which also gives similar Regional Banknote and ID Document of the Year Awards in Asia and Latin America.
Reacting to the award, Malawians on social media say there is nothing people in country will benefit from the recognition since it will not improve the country’s economy.
“Mediocrity of the highest order. How will this benefit a common Malawian? Are we going to have more money in our pockets now? Even after 58 years of independence the whole Bank is here celebrating trivial? This is embarrassing and an insult to the Nation! We are joking too much in this impoverished Nation,” said one person on Facebook.
Another person said: “Nonsense! What does that even translate on welfare of the people, majority who can’t even earn it, or those who can earn it, can barely acquire sufficient basic needs with it?”
Others equated the award to fake degrees which some people receive.
“What does this even mean? Looks like the equivalent of an honorary doctorate from Jerusalema Community College,” a Twitter user tweeted.
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Does that give it a value some awards are meaningless