HARARE - Zimbabwe has been awash with counterfeit R500 notes which do not exist in South Africa. The R500 note has been circulating in Harare and some parts of Matabeleland South, especially Plumtree. It has been used to buy livestock from unsuspecting villagers who were told that the South African government had introduced a new note. (Pictured: Beware of t
Some supermarkets have been victims of the fraud and, as a result, a public notice has been issued. “Please note the South African Reserve Bank did not or is not intending to issue a new R500 note. These notes are now circulating in Zimbabwe, so be on the lookout. They do not exist,” read the notice. The note, which is brown and green in colour, has a map showing the northern tip of South Africa on one side while on the other side there are three zebras grazing in the background.
The note has the head and neck of a zebra in the foreground. According the South African treasury there is no such denomination. The last notes to be introduced into circulation in South Africa were in February 2005.