Ghana gets new banknote

BUSINESS

|
Image: By BiztechAfrica
Ghana gets new banknote

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.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE BUSINESS NEWS

Airtel Uganda hosts high value customers at Business Leaders’ Forum

Enterprise Director, Airtel Uganda, Mr. Oladapo P. Sorinolu Airtel Uganda has hosted an Enterprise Expo in Mbarara district, Western Uganda, as part of efforts to provide practical and modern business solutions to its high value customers.  Read More

Safaricom, Airtel complete yuMobile deal

Safaricom and Airtel have completed the US$120 million acquisition of yuMobile from Essar Telecom. Read More

GrowthAfrica, Usahibu partner to solve SME accounting issues

Kenyan accelerator GrowthAfrica has partnered cloud computing firm Uhasibu in a bid to address the accounting and financial software needs of East African startups and small and medium enterprises (SMEs). Read More

Top 10 risks worth considering when expanding into Africa

Companies planning to expand across Africa must make a concerted effort to understand the risks, and not assume they “know” Africa, says ContinuitySA. Read More

Shop Soko connects Kenyan artisans to lucrative international markets

A new e-commerce platform, Shop Soko, is helping Kenyans access a lucrative international market. Read More

Ricoh SA begins rollout of new services-led strategy, Africa expansion

Jacques van Wyk has been appointed Ricoh SA’s new COO to drive the expanded strategy that will enable the business to become a services-led organisation and see its expansion into the rest of Africa. Read More

Stock Exchange launches news service

A news service by the name of X-News has become the latest product coming from the local bourse, the Botswana Stock Exchange (BSE) recently. Read More

Telkom forays into Botswana through acquisition

South African telecommunications giant Telkom is making inroads into the Botswana market through the acquisition of an ICT company, Business Connexion (BCX).  Read More

Umati Capital secures $10m finance line from ApexPeak

Kenyan financial tech startup Umati Capital has agreed a deal with ApexPeak securing its first line of wholesale capital.  Read More

Kirusa acquires Ghana’s Saya Mobile

Voice messaging and social media apps firm Kirusa has acquired Ghana-based Saya Mobile, which provides instant messaging apps geared specifically for African consumers.  Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

Safaricom-Equity battle for mobile banking hots up Safaricom-Equity battle for mobile banking hots up

Equity bank's entry to the mobile banking and telephony industry is still hanging in the balance with London-based global association of mobile operators (GSMA) calling for independent audit. 

IN DEPTH

Kenya rolls out e-extension to improve agricultureKenya rolls out e-extension to improve agriculture

In a bid to curb the overwhelmed number of agricultural extension officers in Kenya, the ministry of agriculture is embracing technology with their introduction of E-Extension services, which are aimed at reaching out to over 7 million farmers annually.