The Bank of Ghana is not able to indicate the cost of the imminent upgrade of Cedi tickets

Company News of Wednesday, April 10, 2019

Source: goldstreetbusiness.com

2019-04-10

Following the central bank's announcement of the roll-out of improved banknotes in May, Esi Hammond, head of communications at the Bank of Ghana, said upgrading was needed to get the currency ahead of counterfeiters.

She added that Ghana has not upgraded its bank notes since 2007, noting that technological progress has been made, demanding that Ghana strengthen "the sustainability of its currency."

"When counterfeiters copy the models of our banknotes, we need to be able to print with unique attributes," she added, adding that "banknotes will offer increased durability, readability to the machine in line with international standards.

Curiously, she was not able to explain to Joy News the cost of this exercise.

She said, "… I would not know. What concerns me for the moment is to show you that we will bring you something more sustainable, which respects the best practices of the moment. I do not know how much it will cost, but according to what we do, we have to make sure that we give you good marks in accordance with our good or clean notes policy. "

Some of the improved features include:

1) An optically variable magnetic image, also known as "SPARK LIVE". The improvement consists of a shiny and changing color image of the cowrie shell currently on the GHc10. On the GHc20 note, a shining star will appear, and on GHc50, a shimmering cocoa pod. When the note is tilted, a very polite line extends over each image, which moves up and down and changes color from gold to green.

2) A new safety wire (RAPID) will be an illuminated broken line that runs horizontally across the note. When it is tilted, the star expands and contracts as the denomination value remains in place.

3) A larger watermark will appear. It will be the image of Ghanaian farmer Tetteh Quarshie and a cocoa pod. Backlit, the watermark will appear seamlessly on both sides of the note.

4) A polished gold band with gold bars on the back will be printed on the new notes. The iridescent band will extend from top to bottom and become visible if kept away from the light.