Circulation of upgraded 10, 20 and 50 cedi notes by BoG begins today

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The Bank of Ghana (BoG) will today begin the circulation of its enhanced GHc10, GHc20 and GHc50 notes.

According to the Bank of Ghana, both the old and the new notes will be used concurrently until the old ones are phased out.

New features on the new notes include a gold stripe, a watermark, a security thread and a colour changing spark live.

Per the new upgrade, the cowrie shell on the GH₵10, the star on the GH₵20 and the cocoa pod on the GH₵50 will now have a shiny line in them which will move up and down when tilted.

That feature is called Optically Variable Magnetic Image. Another new feature is the New Enhanced Security Thread.

That will be a shiny broken line with movement that runs through the banknote from top to bottom.

It is continuous when viewed against light. When the note is tilted, a star expands and contracts while the denomination value stays still.

Also, the notes will have more prominent watermark.

With this, the image of Tetteh Quarshie with a cocoa pod would be more noticeable in the plain star area of the banknote. It becomes visible on both sides when viewed against light.

The denomination value can also be seen in the watermark area.

There is also the Enhanced Iridescent Band at the back of the banknote. That is a golden band with gold bars at the back of the banknote that runs from top to bottom. It can be seen more clearly when the note is tilted against light.

However, the Big Six portraits, denominational colours, of red for GHc1, yellow for GHc2, blue for GHc5, mauve for GHc20 and brown for GHc50 cedis will not change.

Dimensions of the various denominations and other principal and background images will also remain the same.

Head of Corporate Affairs at the Bank of Ghana, Esi Hammond earlier explained to Citi Business News, that the exercise is in line with best practice.

“What is done elsewhere, you find that at about seven years there about, countries would change their bank notes. For example if all their technological systems are changing then it means that the way they print notes are even different and so we cannot stay back. It might end up being more expensive for us to stay the way it’s been. As for counterfeit, every country suffers that one way or the other, the extent might differ from country to country.”

Source: Citinewsroom.com


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Kennedy Mornah is an Award Winning Ghanaian Journalist with over two decades of experience in the Ghanaian Media landscape spanning the electronic, print and digital media. He is a Media Consultant, a Corporate MC, Radio and TV Host, Founder and Publisher of the Maritime and Transport Digest Newspaper, Businessman, a Go getter and an optimist. He has worked for renowned media organizations including Diamond Fm in Tamale, Luv Fm in Kumasi, Oman Fm in Accra and Starr Fm in Accra In 2017 he received the Reporter of the Year Award at the Ghana Shippers Awards in Accra, Ghana.

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