Report shows that a US company, Crane Currency printed the newly introduced GH¢200 and GH¢100 banknotes for Ghana, here’s why

Report has shown that a United State of America (USA) company, Crane Currency printed the newly introduced GH¢200 and GH¢100 banknotes for the country.

New cedi notes

According to Accra based GRAPHIC BUSINESS, Crane Currency, a currency and security printing company which prides itself as being in the currency business for over 200 years, won the bid from the Bank of Ghana (BoG) that sought tenders from interested firms to provide the said service.

That win enabled Crane Currency to design, print and supply the country’s highest currency denominations that were launched on November 29.

The report further noted that the company was selected from a pool of competitors that included Dela Rue of UK, G&D of Germany, Canadian Banknote Company of Canada, Oberthur Fiduciaire SAS of France and Orell Füssli Security Printing Ltd of Switzerland.

The report, however, declined to mention the value of the contract, citing confidentiality clauses.

Background

On Friday, November 29, 2019, the BoG introduced GH¢100, GH¢200 notes and GH¢2 coins in the country’s currency denomination mix.

The BoG explaining the rationale for the development said the face value of the cedi compared to the US dollar over the past 12 years had eroded due to sustained periods of high inflation and depreciation.

They believe that the new currencies will help shore up the value of the currency.

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