The South African Reserve Bank (SARB) has officially opened its new public museum, giving visitors an opportunity to explore the country's rich economic and financial history while gaining a deeper understanding of the central bank's role in the economy.
The museum was launched at the Reserve Bank's head office in Pretoria, where President Cyril Ramaphosa hailed the initiative as an important step towards transparency and public engagement.
Ramaphosa said the museum reflects the SARB's commitment to accountability by opening its work to the public and creating a space where South Africans can learn about the country's monetary history and view the bank's extensive art collection.
The museum traces South Africa's economic evolution, from early systems of trade and exchange to the establishment of the central bank in the democratic era. It also features galleries showcasing artworks from the Reserve Bank's collection.
Addressing guests at the launch, Ramaphosa praised the institution for making economics more accessible, particularly to young people.
"Now through this museum, the bank is giving the public an opportunity to view its extensive art collection in an accessible way," the President said.
He said he was fascinated by the links between the ancient Kingdom of Mapungubwe and modern concepts of money and financial systems.
"I also learned about the linkage between Mapungubwe and money. Much as our Mapungubwe forebears were able to make those artefacts, the rhino and all those coins in pure gold, it never occurred to me that this was a form of exchange," Ramaphosa said.
He added that the ancient civilisation may have had systems resembling aspects of a modern central bank.
"Maybe if we dig back, Governor, we will find that in Mapungubwe, our really old civilisation, there was a central bank. They had gold bars. They had gold coins that they traded in," he said to laughter from attendees.
Ramaphosa said the museum highlights both the country's economic journey and the richness of its artistic and cultural heritage.
Finance Minister Enoch Godongwana and Reserve Bank Governor Lesetja Kganyago also addressed the event, emphasising the institution's constitutional mandate to maintain price stability and safeguard financial integrity.
The museum is expected to serve as an educational and cultural space, offering South Africans a closer look at the evolution of money, banking and the country's economic landscape.