Ghana’s redesigned Heritage Series cedi banknotes are expected to become available through commercial banks in the first week of December, about two weeks after their official unveiling on Thursday, November 12.
People familiar with the arrangements told JoyBusiness that the Bank of Ghana plans to use the period between the launch and circulation for public education and preparations by commercial banks.
The banks, which will be the main distribution channel for the new notes, will use that time to calibrate automated teller machines (ATMs) and cash-sorting equipment. The work is intended to prevent technical problems such as those experienced when uncalibrated ATMs initially rejected the GH¢200 note.
The central bank is maintaining the November 12 launch date, even though it falls on the same day as the presentation of the 2027 Budget in Parliament.
Foreign guests, including representatives of the banknote printing firm, had already arranged flights and accommodation before the budget date was confirmed. Organisers therefore decided to proceed with the unveiling as planned.
President John Dramani Mahama is due to lead the ceremony at 10:00 a.m. It is expected to conclude in time for Finance Minister Dr Cassiel Ato Forson to present the budget later that day.
Bank of Ghana Governor Dr Johnson Pandit Asiama announced the Heritage Series in September. The programme will update the GH¢200, GH¢100, GH¢50, GH¢20, GH¢10, GH¢5 and GH¢1 denominations.
It will also reintroduce the GH¢2 banknote, while leaving the country’s coins unchanged.
The Bank of Ghana has described the exercise as an upgrade to the currency rather than a redenomination. The value of the cedi will not be altered, while the redesigned notes are intended to be more durable and include stronger security features to help combat counterfeiting.
Existing banknotes will remain valid for payments after the Heritage Series begins circulating. Members of the public will not be required to exchange them immediately or withdraw them from circulation.
“There is no need for the public to rush to exchange or withdraw existing notes solely because of the introduction of the Heritage Series,” the Bank of Ghana advised.