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

Wananchi Telecom prepares for rapid growth across Africa with global network services from Epsilon

Leading East African carrier Wananchi Telecom has partnered with Epsilon to connect African customers to more than 170 countries around the world. Read More

Setback for BTCL IPO as workers cry broke

With the Privatisation of Botswana Telecommunications Corporation Limited privatisation nearing completion, employees claim they do not have the funds to buy the five percent of shares allocated to them. Read More

Nomanini takes Africa by storm using Google Cloud Platform

Nomanini, a Cape Town-based mobile point of sale service that specialises in facilitating cash payments in emerging markets, has successfully scaled into six countries across Africa in just four years, using Google’s Cloud Platform.  Read More

Airtel Kenya announces senior management appointments

Airtel Kenya has appointed Josee Cremieux and Dick Omondi as the new customer service director and corporate affairs director respectively.   Read More

Westcon Africa team expands

Westcon Southern Africa has appointed Brendan Mac Carron in the capacity of Communications and Security Account Manager for the Rest of Africa. Read More

Schneider Electric named Africa Best Employer Brand 2014

Schneider Electric Africa has been awarded the Africa Best Employer Brand Award for 2014/2015 at the annual “Employer Branding Awards (EBA). Read More

Challenges facing today’s CFO’s in driving profit across the African borders

The mode of doing business in Africa has changed and so has the role of the CFO, says SAP Africa. Read More

Cdiscount open for business in Cameroon

Cdiscount, a French e-commerce leader, has officially launched its subsidiary in Cameroon, hoping to change the face of e-commerce in this Central African nation. Read More

Applications open for Tony Elumelu Entrepreneurship Programme

Applications are invited for the Tony Elumelu Foundation Entrepreneurship Programme, a $100 million programme set to fast track African start-ups. Read More

ICS Financial Systems extends presence in Africa

Robert Hazboun, DG of ICSFS ICS Financial Systems Limited (ICSFS) a global software and services provider for banks and financial institutions, partnered with new banks through expansion of its operations in Kenya, Rwanda and Uganda.  Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

UCC launches 2015 ACIA awardsUCC launches 2015 ACIA awards

Uganda has launched the fifth Annual Communications and Innovation Awards, which celebrate and foster ICT innovation and achievement.

IN DEPTH

Kenya’s digital TV battle hots up Kenya’s digital TV battle hots up

Kenya’s journey to Digital TV broadcasting took a new turn this week, when the Communication Authority of Kenya (CAK) accused three local media firms of intent to disrupt the process.