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
MTN Group Sustainability Report releasedMTN Group’s efforts to advance social development in its markets through the integration of sustainable business practices into day-to-day activities, is yielding positive outcomes, the company’s Sustainability Report shows. Read More
Senegal seeking ICT investment opportunities in MauritaniaMauritania, an impoverished nation in West Africa, is a largely untapped ICT market, according to many Senegalese industry players. A group of ICT companies from Senegal recently visited Mauritania to find out if this statement is indeed true. Read More
Schneider Electric releases the first survey on counterfeit electrical products in AfricaCounterfeiting of most common electrical products is widely spread in all African countries, representing 40% to 80% of their markets, says a new survey. Read More
MTN Business launches services that will host SMEs securely on its domainMTN Business has launched Bring Your Business Online, a platform that gives small and medium-sized businesses (SME) increased visibility by providing online presence on the MTN managed domain for less than R20 a month. Read More
Job fears in Senegal as Tigo outsources network managementPeople working for Tigo Senegal are worried about their jobs after the mobile operator signed an agreement that handed over the management of its network to the Swedish telecom giant Ericsson. Read More
JUMIA Côte d’Ivoire expands its operationsJUMIA has opened six new hubs in Cote d’Ivoire in the cities of Yamoussoukro, Bouaké, San Pedro, Daloa, Gagnoa, and Korogho. Read More
US firm Actifio drives into African marketsUS based company Actifio, which specialises in copy data virtualisation, has revealed its plans for the expansion of its footprint in the African markets. Read More
Richard Edet appointed Country Senior Officer for Alcatel-Lucent NigeriaAlcatel-Lucent has announced the appointment of Richard Edet, effective today, as Country Senior Officer and managing director for Nigeria. Read More
Africans to surge up the ranks of ultra-high-net-worth individualsThe number of ultra-high net worth individuals – those with at least $30 million in assets – in Africa will increase by a staggering 59% over the next 10 years, stronger than the 34% projected global growth. Read More
FEATURED STORY2bn priced out of internet access
A new report from the Alliance for Affordable Internet shows that the price of broadband remains prohibitive for billions in developing and emerging countries, with women and rural dwellers hardest hit.
BEST READ NEWS
IN DEPTHVillagers get solar training at Barefoot College
The Botswana Human Resource Development Council (HRDC) has seconded seven semi-illiterate mostly Ngwatle villagers for a six month solar electrification training course at the famed Barefoot College in India.