President John Dramani Mahama has announced that the new Ghana cedi banknotes being introduced under the Ghana Heritage Series will circulate alongside the old notes.
He said banks will gradually withdraw the old currency over time.
Speaking at the launch of the Ghana Heritage Series Banknotes on Thursday, November 12, the President said the new notes were made from reinforced cotton paper designed to last longer than the old currency notes they are replacing.
He assured Ghanaians that the introduction would not result in the immediate withdrawal of existing banknotes.
“As the Governor said the new cedi to be introduced today is made of reinforced cotton paper and is designed to last longer than the old currency notes they are replacing.
“The new notes will run side by side with old currency notes. We are not displacing the old currency notes. The banks will withdraw the old notes gradually until the new notes takes over completely,” the President stated.
He added that the redesigned notes were also smaller and easier to handle.
President Mahama described the cedi as an enduring symbol of Ghana’s economic sovereignty, noting it had remained central to the lives of Ghanaians despite the economic difficulties and uncertainties the country had experienced.
“The cedi has travelled with us through difficult seasons. It has borne the pressures of our economy and the uncertainties that have tested our businesses and our households, yet it remains an enduring expression of our economic sovereignty,” he said.
The President said the launch was an opportunity to celebrate the currency’s heritage and resilience, as well as acknowledge the patience and hard work of Ghanaians whose livelihoods depend on its strength.
“As we celebrate its heritage, we also celebrate its resilience and acknowledge the patience and hard work of Ghanaians whose livelihoods depend on its strength.”
He stressed that the government’s responsibility was to provide the cedi with a stronger economic foundation, describing this as a central objective of the administration’s New Economy Programme.
The programme, he said, would underpin the 2027 Budget, which Finance Minister Dr Cassiel Ato Forson was expected to present to Parliament later on Thursday, November 12.
