President John Dramani Mahama launched the upgraded Ghana Heritage Series banknotes at the Bank Square in Accra on Thursday updating all eight existing currency denominations.
The Bank of Ghana introduced the upgraded series to modernise the national currency and strengthen its security and durability, as reported by Citinewsroom. The new notes cover all eight existing denominations ranging from the GH¢1 to the GH¢200 note.
They also mark the reintroduction of the GH¢2 note, according to Adomonline. The central bank did not create any new denominations, and the overall value of the cedi remains unchanged, as said by BBC.
Enhanced Security Features
The redesign replaces banknotes that have been in circulation for more than two decades, incorporating national heroes, historic sites, monuments, and Adinkra symbols for the first time, as detailed by Graphic Online.
Achimota School made history on the reverse side of the new GH¢5 note as the only senior high school in Ghana featured on a banknote, highlighting the legacy of educationist Dr James Emman Kwegyir Aggrey, according to Pulse Ghana.
The launch event was held under the theme ‘The Cedi, Our Future: Secure, Designed to Last’. It brought together President John Dramani Mahama, Bank of Ghana Governor Dr Johnson Asiama, the Speaker of Parliament, traditional leaders, and members of the clergy, as reported by GBC Ghana Online.
“This launch is more than the introduction of upgraded notes. It is an opportunity for us to reaffirm our responsibility to protect the cedi, to celebrate the heritage that defines us and prepare our currency for the demands of a changing world,” said Dr Johnson Pandit Asiama, the Governor of the Bank of Ghana.
Governor Asiama said the new notes get enhanced security features, improved durability and modern design wey dey reflect di kontris heritage, protecting against counterfeiting while withstanding prolonged circulation.
Dominic Owusu, the Director of Currency Management, explained that the GH¢200 note was made smaller. “di current Ghc200 note for example too big, na one of di biggest note for di world, pipo dey struggle to pt for wallet, na so we decide to make di new note smaller and easy to use for business,” Dominic Owusu, the Director of Currency Management, told BBC.
The central bank developed an in-house Enterprise Currency Operations Management Software. It also introduced a Cedi App to help citizens familiarise themselves with the features of the upgraded currency, according to GBC Ghana Online.
New Banknotes Enter Circulation Through Commercial Banks
The upgraded banknotes could enter circulation about two weeks after the launch, with a phased introduction through commercial banks projected for the first week of December, as reported by Adomonline. The bank is maintaining the November 12 launch date despite its coincidence with the 2027 Budget presentation because international guests and printing firm officials had already booked travel arrangements, according to 3News.
Existing cedi notes will remain legal tender and circulate alongside the new series, and the bank cautioned the public against rushing to exchange current money, according to Yen News.
“There is no need for the public to rush to exchange or withdraw existing notes solely because of the introduction of the Heritage Series,” the central bank said, as cited by Citinewsroom.
Authorities also told the public to avoid crumpling, writing on, stapling, or spraying banknotes at events, and to discontinue using currency for money bouquets in order to preserve the lifespan of the notes, according to Citinewsroom – Comprehensive News in Ghana.