The South African Rand, abbreviated as ZAR, derives its name from “Witwatersrand,” the ridge upon which Johannesburg, a key source of South Africa’s mineral wealth, was built. Interestingly, the rand was introduced in 1961, coinciding with South Africa’s transition from the Union to a republic. It was initially valued at 2 Rands to 1 British Pound, reflecting a strong economic position at the time.

In a unique cultural twist, the rand underwent a redesign in 2012 when a series of banknotes featuring the image of Nelson Mandela, the country’s first Black president and an iconic figure in the struggle against apartheid, was introduced. These notes replaced the former series which highlighted the “Big Five” wildlife, signifying unity and honoring Mandela’s legacy while maintaining the country’s rich biodiversity on its currency.