Jackpot machine owners lose money because of new banknotes, coins

Chris KaukemuaWindhoekThe N$30 and the N$60 commemorate note introduced earlier this year are causing headaches for businesses across Namibia, with operators of jackpot machines, vending machines, money counters, and even parking meters facing costly upgrades to keep their equipment running.The Bank of Namibia admitted yesterday that the integration and upgrade of vendor systems is already underway to enable full compatibility of the new banknotes. This process, the bank said, involves technical adjustments and updates across machines and equipment to ensure they can accurately authenticate and dispense the upgraded notes.“The Bank is working closely with vendors, commercial banks, and other cash industry stakeholders to expedite this process. In the interim, we encourage the public to continue using both the upgraded and existing banknotes, as all current banknotes remain legal tender,” the central bank said in a statement.Bearing the costsA gambling house owner in Rehoboth, who requested anonymity, said he owns more than 50 jackpot machines countrywide. “The software for just one machine to recognise the new notes costs close to N$20 000,” he explained. At that rate, the bill for his fleet alone would reach N$1 million.Another business owner said the rapid rollout leaves operators struggling to adapt. “If the bank gave us more time, it would be manageable. But the speed is forcing us to scramble, and these machines are the backbone of our businesses,” he said.A Namibian Sun survey yesterday found that it is not only gambling operators who face steep costs. Vending machines that sell electricity units and airtime, as well as parking pay stations and money-counting machines, all need to be reconfigured. For many operators in Windhoek and Rehoboth, the challenge is not only financial but also logistical, as upgrades require both software and hardware adjustments.Global standardAt the official launch of the new coins in July, the Bank of Namibia said the redesign was not just about security but also about cost-saving. “The new coins were designed with a different feel to help reduce rising minting costs,” the bank’s director of strategic communications and international relations, Kazembire Zemburuka, explained at the launch. He said currency upgrades are a global standard carried out every six to seven years to strengthen security and prevent counterfeiting, noting that Namibia’s last coin review was in 1993.Zemburuka also said the redesign carried symbolic value, with the 10 cent coin now featuring mahangu to represent agriculture, the twenty cent coin highlighting manufacturing, the one-dollar coin showing retail, the fifty cent depicting tourism, and the new five-dollar coin reflecting mining.Industry players, however, argue that while the symbolism may inspire pride, the practical costs are hurting smaller operators. “If customers can’t play, that’s a direct loss of income for us,” another gambling operator said. “The upgrades may secure the future, but for now, the immediate expense risks pushing small businesses over the edge.”Despite the Bank of Namibia’s assurances, operators say the transition period is already testing their survival.

Jackpot machine owners lose money because of new banknotes, coins

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Namibian Sun 2026-06-25

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Jackpot machine owners lose money because of new banknotes, coins

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Namibian Sun 2026-06-25

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