Beginning May 6, 2019, the Bank of Ghana (BoG) will introduce unto the market, new notes of the country’s currency.
The cedi, according to the Central Bank, will be ungraded to have improved security features, which the BoG says, is in line with evolving the technological changes in the banking landscape.
In a statement issued by the BoG on April 8, 2019 and available to Ghanacrusader.com, the upgraded banknotes also come with “improved durability and machine readability.”
Details of the enhanced security features are below:
1. Optically Variable Magnetic Image (Spark Live): It is a shiny colour – changing image of the cowrie shell on the GH₵10, star on the GH₵20 and cocoa pod on the GH₵50. When the note is tilted, a shiny line across the cowrie shell, star, and cocoa pod moves up and down. The colour of the feature also changes from gold to green when tilted.
2. New Enhanced Security Thread (Rapid): It is a shiny broken line with movement that runs through the banknote from top to bottom. It is continuous when viewed against light. When the note is tilted, a star expands and contracts while the denomination value stays still.
3.More Prominent Watermark: It is the image of Tetteh Quarshie with a cocoa pod
which has been made more noticeable in the plain star area of the banknote. It becomes visible on both sides when viewed against light. The denomination value can also be seen in the watermark area.
4. Enhanced Iridescent Band at the Back of the Banknote: It is a golden band with
gold bars at the back of the banknote that runs from top to bottom. It can be seen
more clearly when the note is tilted against light.
However, some features of the cedi including the Big six portrait, denominational colours, dimensions of the various denominations, and other principal and background images. The new banknotes will also “co – circulate with existing series of banknotes,” the BoG has noted.
Against this backdrop, the Central Bank has encouraged the public to “know the cedi and keep it clean.”
It would be recalled, the Bank of Ghana unveiled a new GH¢5 bank note which began circulation on March 7, 2017 and used alongside the existing GH¢5 note.
The new currency note had come with a new pulsating shine when tilted and had the portrait of the legendary Ghanaian educationist, Dr James Kwegyir Aggrey, on the right-hand side of the front of the note, replacing the iconic Big Six on the existing GH¢5.
On the reverse side of the new note are distinguishable pictures of the Floating, Production, Storage and Offloading (FPSO) Kwame Nkrumah, an oil vessel named after Ghana’s founding president, President Nkrumah.