By Shania Lazarus and Puyeipawa Nakashole

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1681232156678-0'); }); The Bank of Namibia warns that gift vendors making cash bouquets could face fines of up to N$50 000 or three years’ imprisonment.

The bank argues that money bouquets that involve gluing, taping, pinning, stapling, or otherwise attaching materials to banknotes is a form of wilful defacement or damage of currency, which is prohibited. (adsbygoogle = window.adsbygoogle || []).push({});

Central bank spokesperson Kazembire Zemburuka says assembling such bouquets permanently alters, soils, or damages the notes.

“The Bank of Namibia Act imposes a fine not exceeding N$50 000, or imprisonment for a period not exceeding three years, or both such fine and imprisonment, upon conviction,” Zemburuka says.

He adds that adhesives such as glue or tape pose a risk to the bank’s note-sorting machines. (adsbygoogle = window.adsbygoogle || []).push({});

Sticky residues cause banknotes to misfeed or jam machinery, resulting in equipment downtime, increased maintenance costs, and higher rejection rates, he says.

“These practices significantly shorten the lifespan and functionality of banknotes, accelerating deterioration and increasing the cost of replacing currency,” Zemburuka says.

He advises businesses to explore alternative creative options that do not involve altering or damaging currency.

“The Bank of Namibia urges florists, gift-makers, and the public to cease using banknotes for decorative, artistic, or novelty purposes.”

In 2023, the central bank reported it had to destroy banknotes worth N$2.3 billion, which were deemed unfit for circulation due to wear and tear.

Sixty thousand (N$1.8 million) commemorative N$30 polymer banknotes were returned to the bank as damaged, which the bank noted was a low rate due to the material’s durability.

Local vendor and owner of Risto’s Garden, Risto Nantinda, who usually makes most of his sales during this time of the year, says this could mean a significant loss for his small business.

“Money bouquets are extremely important for my revenue. They are one of my top-selling products, especially during peak seasons like Valentine’s Day, birthdays, graduations, and celebrations.

“During these periods, money bouquets make up a significant portion of my income and help sustain my business during slower months. For a small business like mine, these peak sales are not a luxury, they are essential for survival,” he says.

Nantinda says the announcement will have a negative impact on his operations and income.

“I am disappointed and angry because this is something I have built my business around and invested time, creativity, and resources into. For many small businesses, this kind of decision can mean the difference between staying afloat and shutting down,” he says.

“I had an order for a money bouquet of N$10 000 but after the Bank of Namibia’s announcement, I lost out in making profits from that.”

Another vendor, Nangula Haikola, says this could mean the closure of her business because it solely focused on folding banknotes into bouquets.

“I wish they had told us earlier so that we could try to look for alternatives and other creative ways to expand our businesses. Why did they announce this now when we are very close to Valentine’s Day, which is the time that we make more money,” Haikola says.

She says she initially had three orders that requested her bouquet services, but they have since been cancelled following the announcement.

The Giftery Namibia says it does not offer money bouquets as a service

“If cash is included in the gift we put it in an envelope and do not display or alter it,” it says. “I think companies should be allowed to offer their money bouquet in a way that does not destroy the money. This is an opportunity for them to become creative and print something like mini cheques with the cash amount.”

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