Bank of Ghana begins circulation of upgraded and security-enhanced banknotes

The Bank of Ghana (BoG) will begin the circulation of its enhanced cedi notes today, May 6, 2019.

Ghana cedis

The enhanced notes are GH₵10, GH₵20 and GH₵50.

The Bank of Ghana said both the old and the new notes will be used concurrently until the old ones are phased out.

The Head of Corporate Affairs at the Bank of Ghana, Esi Hammond recently explained that the exercise is in line with best practice.

She said, “What is done elsewhere, you find that at about seven years there about, countries would change their bank notes. For example, if all their technological systems are changing then it means that the way they print notes are even different, and so we cannot stay back,” adding that, “It might end up being more expensive for us to stay the way it’s been. As for counterfeit, every country suffers that one way or the other, the extent might differ from country to country.”

Here is what to expect from the upgraded and security-enhanced banknotes

•   The new enhanced security features are an optically variable magnetic image (SPARK LIVE), a new enhanced security thread (RAPID), a more prominent watermark and an enhanced iridescent band at the back of the banknote.

•   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.

•   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 the light. When the note is tilted, a star expands and contracts while the denomination value stays still.

•   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 the light. The denomination value can also be seen in the watermark area.

•   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 the light.

•   However, the Big Six portraits, denominational colours, red for GH₵1, yellow for GH₵2, blue for GH₵5 mauve for GH₵20 and brown for GH₵50 cedis will not change.

•   Dimensions of the various denominations and other principal and background images will also remain the same.

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