Ora (currency) on:
[Wikipedia]
[Google]
[Amazon]
The Ora (symbol:Φ, ) is the
In May 2021, Orania released the first implementation of the so-called dOra. The dOra is a digital copy of the Ora with added benefits, such as electronic payments. The dOra will not replace physical notes, but supplement those that already exist. Additionally, unlike the Ora, the dOra will not have an expiry date. The Orania Technology Group, a local based IT association, lead the development of the digitization of the Ora.
local currency
In economics, a local currency is a currency that can be spent in a particular geographical locality at participating organisations. A regional currency is a form of local currency encompassing a larger geographical area, while a community curren ...
of Orania
Orania () is an Afrikaner separatist town founded by Afrikaners in South Africa. It is located along the Orange River in the Karoo region of the Northern Cape province. The town is split in two halves by the R369 road, and is from Cape Tow ...
, an Afrikaner whites-only town in South Africa
South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. It is bounded to the south by of coastline that stretch along the Atlantic Ocean, South Atlantic and Indian Oceans; to the ...
first issued in April 2004. It is pegged at par with the South African rand
The South African rand, or simply the rand, ( sign: R; code: ZAR) is the official currency of the Southern African Common Monetary Area: South Africa, Namibia (alongside the Namibian dollar), Lesotho (alongside the Lesotho loti) and Eswatin ...
. The name, recalling that of the town where it circulates, derives from Latin ''aurum'', meaning "gold". The currency is not sanctioned by the South African Reserve Bank
The South African Reserve Bank (SARB) is the central bank of South Africa. It was established in 1921 after Parliament passed an act, the "Currency and Bank Act of 10 August 1920", as a direct result of the abnormal monetary and financial condit ...
.
History
The idea of the Ora originated in 2002, when Professor Johan van Zyl argued that a community that intended to empower itself should have access to as many instruments as possible, including its own currency. The first notes issued in April 2004 to provide an internal currency for Orania as part of its goal to create an independent Afrikaner state known as aVolkstaat
The concept of a Volkstaat (, "People's State"), also called a Boerestaat, is a proposed view to establish an all-white Afrikaner homeland within the borders of South Africa, most commonly proposed as a fully independent Boer/Afrikaner natio ...
. Before its launch, the South African Reserve Bank
The South African Reserve Bank (SARB) is the central bank of South Africa. It was established in 1921 after Parliament passed an act, the "Currency and Bank Act of 10 August 1920", as a direct result of the abnormal monetary and financial condit ...
cautioned that all items produced could not resemble Rand notes, under South African law.
It is printed in denominations of 10, 20, 50, 100 and 200 Ora. The 10 Ora note depicts Afrikaner history, the 20 Ora notes Afrikaner art; the 50 Ora notes Afrikaner culture; and the 100 Ora note Orania itself. Each note also advertises a local business.
To encourage its use, some stores in Orania offer a 5% discount for items purchased in Ora. The local banking institution, the ''Orania Spaar- en Kredietkoöperatief'', is in charge of the initiative. Rands can be exchanged at this bank for Ora at par. The bank profits from this due to gaining interest on the Rand obtained. The initiative is not supported by the South African Reserve Bank
The South African Reserve Bank (SARB) is the central bank of South Africa. It was established in 1921 after Parliament passed an act, the "Currency and Bank Act of 10 August 1920", as a direct result of the abnormal monetary and financial condit ...
.
The use of the Ora as a payment method also has the effect of discouraging theft, as it can only be used within Orania. About R400,000 to R580,000 worth of Oras were in circulation by 2011. New notes are printed every three years to replace the ones worn out by use.
dOra
In May 2021, Orania released the first implementation of the so-called dOra. The dOra is a digital copy of the Ora with added benefits, such as electronic payments. The dOra will not replace physical notes, but supplement those that already exist. Additionally, unlike the Ora, the dOra will not have an expiry date. The Orania Technology Group, a local based IT association, lead the development of the digitization of the Ora.
See also
*Volkstaat
The concept of a Volkstaat (, "People's State"), also called a Boerestaat, is a proposed view to establish an all-white Afrikaner homeland within the borders of South Africa, most commonly proposed as a fully independent Boer/Afrikaner natio ...
*Afrikaner nationalism
Afrikaner nationalism ( af, Afrikanernasionalisme) is a nationalistic political ideology which created by Afrikaners residing in Southern Africa during the Victorian era. The ideology was developed in response to the significant events in Afrik ...
References
External links
* {{DEFAULTSORT:Ora (Currency) Currencies of South Africa Local currencies Orania, Northern Cape Economy of the Northern Cape