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

Call for pan-African contact centre association

Interactive Intelligence has called for the creation of a call centre association for Nigeria and other African countries as a way of promoting a standard for call centres. Read More

AMI, Strathmore launch free online courses for managers and entrepreneurs in Africa

Managers and entrepreneurs in Africa can now gain advanced skills for free, with the launch of free online courses courtesy of the African Management Initiative (AMI). Read More

Bytes, NCR and Barclays in ATM deal

Bytes Managed Solutions, the exclusive distributor of NCR technology solutions in Southern Africa had signed a deal with Barclays Bank of Botswana (BBB) for the installation of intelligent cash deposit ATMs. Read More

Orange reports 8% revenue growth

Integrated telecommunications service provider Orange has announced an 8% revenue growth for the overall business for the first half of this year, compared to the same period last year. Read More

Business Connexion appoints CEO

Business Connexion Group Limited has announced that Mr. Isaac Mophatlane has been appointed Chief Executive Officer of the company. Read More

Managed service support key to growth for iWayAfrica

Pan African telecoms operator, Gondwana International Networks (GIN) has announced that its iWayAfrica business will be partnering with managed services company, SevenC Computing to grow its foothold in key Africa territories.  Read More

Dire need for top IT leadership

There is a huge demand for top leaders with high-level information technology skills, but there are very few candidates who can fill these positions, one of SA’s leading executive search experts says. Read More

AccTech Systems moves strategically into Africa

AccTech Systems has signed an Independent Software Vendor (ISV) agreement with Microsoft to provide solutions to the Microsoft Dynamics NAV and GP Dynamics channel in Africa. Read More

Acer steps up MEA commercial focus

Acer Middle East and Africa is renewing its focus on the region’s commercial market, with new products and services and an enhanced channel strategy. Read More

uAfrica.com rolls out African expansion plan

uAfrica.com, a leading South African eCommerce technology company, today announced the launch of the first phase of its expansion plan into the rest of Africa.  Read More

PRESS OFFICES

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

FEATURED STORY

Widening ICT skills gap: Cause for concernWidening ICT skills gap: Cause for concern

Nigeria's FDI gains could be eroded by the widening gap in indigenous skilled ICT manpower, writes Kokumo Goodie.

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.

COMPANY NEWS

How the cloud can power entrepreneurship and urbanisation in Africa

Cloud computing is not only fundamentally changing the way business operates, it is also driving a new wave of job creation opportunities, says SAP Africa.