Bank of Ghana Introduces New Heritage Currency Series

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The launch, held at the Bank of Ghana’s headquarters in Accra on Thursday, November 12, 2026, introduces a redesigned currency series intended to improve durability, strengthen security and preserve Ghana’s national heritage. Speaking at the ceremony, President Mahama emphasised that the cedi represents more than a medium of exchange, noting that its significance extends to the everyday livelihoods of Ghanaians and the shared identity of the nation.

“For the Ghanaian people, the cedi has a very practical meaning. It pays for the food that appears on the family table, it keeps our businesses running, and it helps parents put their children through school.”

He commended the Governor, Board, management and staff of the Bank of Ghana, alongside international partners, for their contributions towards making the initiative possible.

President Mahama explained that the Heritage Series draws inspiration from Ghana’s historical systems of trade and cultural traditions, particularly the use of cowrie shells as an early medium of exchange.

The name of the cedi itself, he noted, originates from the Akan word for cowrie, reflecting the country’s longstanding history of commerce before the establishment of modern financial institutions. From the trading centres of Salaga to coastal communities, cowries facilitated the exchange of goods and connected people across different geographical and linguistic communities.

He also referenced traditional brass weights used in gold trading, particularly the symbol of two crocodiles sharing one stomach, which represents interdependence and collective responsibility. The President maintained that the symbolism remains relevant to contemporary Ghana, where economic decisions and national development require shared commitment.

“When our economy is strong, opportunity can spread. When our economy falters, families and businesses across the country are the ones that bear the burden.”

According to him, the Heritage Series brings Ghana’s historical identity into everyday transactions through images of national figures, historic locations and cultural symbols that reflect the contributions of different communities.

Beyond their cultural significance, the redesigned banknotes incorporate enhanced security features intended to strengthen protection against counterfeiting and make the authentication of genuine currency easier.

The Bank of Ghana Governor, Dr Johnson Pandit Asiama, explained that the improvements were designed to address the practical demands of currency management while extending the lifespan of banknotes in circulation. The notes are produced using reinforced cotton paper and feature smaller, more portable dimensions, making them easier to handle during everyday transactions.

The upgraded series covers eight denominations: GH¢1, GH¢2, GH¢5, GH¢10, GH¢20, GH¢50, GH¢100 and GH¢200, including the reintroduction of the GH¢2 note. The central bank has scheduled December 1, 2026, for the commencement of circulation of the new notes. They will initially circulate alongside existing banknotes, which will retain their legal tender status. The transition will allow banks, businesses and the general public to adjust without disrupting financial transactions.

As part of efforts to improve currency management, the Bank of Ghana has also developed an in-house Enterprise Currency Operations Management Software (ECOMS) to strengthen coordination with commercial banks. It is also introducing a Cedi App to educate the public about the new banknotes and improve accessibility for persons with visual impairments. Nationwide public education campaigns are expected to help Ghanaians identify genuine notes and handle the currency responsibly.

Beyond celebrating the currency’s historical significance, President Mahama used the occasion to outline the government’s broader ambition of strengthening the economic foundations of the cedi through increased domestic production and export diversification.

He linked the currency’s long-term stability to the government’s proposed US$10 billion New Economy Programme, a four-year investment initiative covering 2027 to 2030. The programme, which is expected to feature prominently in the 2027 Budget, seeks to transform Ghana’s economic structure by expanding productive capacity, supporting local industries and creating employment opportunities.

President Mahama explained that producing more goods locally, processing more agricultural products and expanding exports would help reduce dependence on imports and ease pressure on foreign exchange.

“When Ghanaian firms supply our markets, Ghanaian firms spend our resources to produce products. We create jobs locally, and reduce the need to spend scarce foreign exchange on goods that we can produce competitively ourselves.”

He further maintained that disciplined public financial management and credible monetary policies would be essential to sustaining economic stability and protecting the purchasing power of households.T he President expressed confidence in the productive capacity of Ghanaians, stressing that the benefits of economic recovery must extend beyond financial indicators to everyday experiences.

For traders, he envisioned greater certainty in purchasing supplies, while manufacturers should have improved confidence in production planning and households should experience greater security in their incomes and savings.

The 2027 Budget Statement and Economic Policy, scheduled for presentation by Finance Minister Dr Cassiel Ato Forson later on Thursday, is expected to provide further details of the government’s economic transformation agenda. Mahama also urged the Bank of Ghana to continue investing in local expertise, commending its professionals for developing currency management systems internally.

He noted that the institution would mark its 70th anniversary in March 2027, highlighting its longstanding contribution to Ghana’s economic sovereignty.He concluded that the Heritage Series should serve as a reminder of the country’s shared history while reinforcing confidence in its future.

The launch therefore represents both a currency upgrade and a broader national statement: Ghana’s economic progress must be built on the strength of its institutions, the creativity of its people and the productive capacity of its economy.

The Bank of Ghana’s official launch remarks confirm the December 1 circulation date, continued legal tender status of existing notes and the accompanying public education initiatives. The government’s US$10 billion investment programme was announced as a four-year initiative running from 2027 to 2030.

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