I am going to assume this is a Libyan Horse. Beyond that, I really don't know the meaning of the horseman that appears on these coins. Perhaps he represents old Bedouin tribes? Berbers?
Below is the only information I could find on Libyan horses (as a breed). It is from a Wikipedia article on King Arcesilaus IV of Cyrene:
The Libyan Horse is one of the few natural breeds of the world, which were descendant from the original wild horses of central Asia. Among the descendants of the original wild horses of central Asia are the Spanish horse and the Arabian horse. The Libyan horses are mentioned by the Greek historians Herodotus and Xenophon in their writings. Various cultures throughout history have breed and used the Libyan horse.
This coin was minted in 1979 only.
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