Ghana gets new banknote
BUSINESSNana Appiah, Accra, Ghana | Aug. 21, 2012, 8:10 p.m.
By Nana Appiah Acquaye, Accra, Ghana
The new acting governor of the Bank of Ghana, Dr. H.A.K Wampah, has introduced an upgraded GH¢50 denomination to ensure that banknote security is not compromised and to maintain integrity by avoiding a general loss of confidence in the denomination.
The upgraded GH¢50 Banknote has a more secure and technologically advanced public recognition feature called ‘’Spark’’, together with other features. The Spark is in the form of a green cocoa pod located towards the bottom right hand corner of the banknote. When tilted the cocoa pod changes colour progressively from green to blue and back to green. A beam of light rolls on the cocoa pod. It would be observe that the Spark replaces the hologram on the old GH¢50 denomination.
In a speech to officially launch the note, Dr Wampah disclosed that the upgraded GH¢50 banknotes will be in circulation in the country and can be obtained from your bankers upon request. He said the old banknote will run concurrently with the upgraded banknote and will be accepted as legal tender for the payment of goods and services until 30th September, 2012. Thereafter the old GH¢50 denomination can only be exchanged at the Bank of Ghana or any bank in Ghana.
The new governor then advised the General Public to familiarize themselves with the new features on the upgraded GH¢50 denomination and entreats them to endeavor to keep all the banknotes clean to maintain currency durability and integrity.
In July this year, the Bank of Ghana announced to the General Public the Bank’s decision to introduce an upgraded GH¢50 denomination to ensure that banknote security is not compromised and to maintain integrity by avoiding a general loss of confidence in the denomination. On the same date, the Bank unveiled the educational materials on the upgraded banknote in the form of posters and flyers to launch the publicity campaign. This has since been complemented with other multimedia advertisements.
MORE BUSINESS NEWS
VMware reports third quarter 2014 resultsVMware, the global leader in virtualization and cloud infrastructure, today announced Year-over-Year Revenue Growth of 18% to $1.52 Billion in its financial results for the third quarter of 2014. Read More
CA Technologies study reveals application divideA global study commissioned by CA Technologies reveals that that “Leaders” who are investing in new innovation and development capabilities are growing revenue at more than twice the rate of “Laggards,” creating an Application Divide in the marketplace. Read More
RubiBlu eyes African growthSA-based software firm RubiBlu plans to expand in Africa on the back of significant growth. Read More
MTN Business partners Ghana SME 100 RankingMTN Business has been announced as the headline sponsor of the first annual Ghana SME 100 ranking, an initiative put in place to identify and honour the country's top 100 local Small Medium Enterprises. Read More
Banks deny charging customers for BVNMoney deposit banks (MDBs) have denied allegation that they were milking their customers through ongoing Bank Verification Number (BVN) project of the Central Bank of Nigeria (CBN). Read More
Schneider Electric to acquire InStep SoftwareSchneider Electric, the global specialist in energy management, has entered into an agreement to acquire InStep Software, a leading provider of real-time performance management and predictive asset analytics software and solutions. Read More
AfricaOnline managed service solution launched in GhanaPan African telecoms operator, Gondwana International Networks (GIN) has announced that its AfricaOnline business has launched a managed infrastructure and services solution in Ghana. Read More
4th Annual CIO100 awards open for applicationIn conjunction with PwC, the CIO 100 awards, now in its fourth year, is now open for applications. Read More
Kenya’s Wananchi Group raises $130m for African expansionKenya’s Wananchi Group, which owns the Zuku pay-TV and fibre brands, has raised US$130 million in funding to expand in East and Southern Africa. Read More
Investor networks to work towards pan-African Business Angel NetworkInvestor networks from across Africa attending last week’s DEMO Africa event in Lagos, Nigeria agreed to investigate how to form a pan-African Business Angel Network focused on early stage SME investing on the continent. Read More
FEATURED STORYGrowing African focus on data security
Beachhead Solutions’ new SA and Mauritius country manager explains the challenges and solutions around securing customer data and compliance with new personal information legislation.
BEST READ NEWS
IN DEPTHAfrica lags on digital migration
Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.
COMPANY NEWSVMware reports third quarter 2014 results
VMware, the global leader in virtualization and cloud infrastructure, today announced Year-over-Year Revenue Growth of 18% to $1.52 Billion in its financial results for the third quarter ...