A whites-only enclave in South Africa has resisted the country’s multi-racial reality for more than two decades, even adopting its own paper money in its bid to promote self-sufficiency. Now Orania, a town of 1,400 established during the dying years of apartheid and protected by the constitution, is looking to take its “ora” currency digital. … Read more
The Bank of Ghana (BoG) has categorically stated that the new circulating GH¢5 note is just a ‘one off print’commemorative note but not a replacement of the existing note. Speaking at a mini workshop for media practitioners and bankers in Sunyani, Catherine Ashiley, Advisor to the Governor of BoG said the new GH¢5 note is … Read more
The Bank of Ghana (BOG) is on a nationwide outreach program to educate Ghanaians about the security features on the new commemorative GHc 5 bank note in circulation. The program, dubbed, “Information Security Awareness Program” is spearheaded by the Head of Currency Management Department, Edward Musey. Edward Musey at a media encounter in Tamale, said … Read more
The Bank of Ghana (BOG) is on a nationwide outreach program to educate Ghanaians about the security features on the new commemorative GHC5 bank note in circulation. The program, dubbed, “Information Security Awareness Program” is spearheaded by the Head of Currency Management Department, Edward Musey. Edward Musey at a media encounter in Tamale, said there … Read more
The Bank of Ghana (BOG) is on a nationwide outreach program to educate Ghanaians about the security features on the new commemorative GHc 5 bank note in circulation. The program dubbed, “Information Security Awareness Program” is spearheaded by the Head of Currency Management Department, Edward Musey. Edward Musey at a media encounter in Tamale said … Read more
Governor of the Bank of Ghana (BoG), Dr. Abdul Nashiru Issahaku, has called on central banks in the West African sub-region to strengthen the security features of their currencies in line with changing technology. “New designs must win public acceptance, incorporate requisite security features and meet durability and machine processing standards. Fitness standards for currency … Read more
Central bankers in West Africa have expressed their commitment to collaborate to fight currency counterfeiting within the sub-region. The growing menace affects almost all countries within the West Africa sub-region, with the scammers ready to pounce on any new currencies issued to flood the system with the fake versions at the expense of domestic economies. … Read more
Currency analysts have stated that the Bank of Ghana’s auction of 120 million dollars in the first quarter of this year, to contain the cedi’s depreciation has begun yielding the intended results. According to them, the move would have been more effective if the Bank of Ghana increased its supply of dollars in the first … Read more
Central banks across the West African sub-region have met to build capacity in fighting fake currency circulation. The circulation of counterfeit notes has been a major challenge for West African countries as fake notes are transited every year, running into millions of dollars. Speaking to Citi Business News at workshop organized in Accra on Banknote … Read more
Central banks across the West African sub-region have met to build capacity in fighting fake currency circulation. The circulation of counterfeit notes has been a major challenge for West African countries as fake notes are transited every year, running into millions of dollars. Speaking to Citi Business News at workshop organized in Accra on Banknote … Read more
It will be “very difficult” for fake copies of the new GHS5 note to be made due to the security features incorporated into its printing, Edward Musey, Head of Currency at the Bank of Ghana, has assured. The new note, bearing the image of Dr James Kwegyir Aggrey, came into circulation on March 4, 2017, … Read more
Some users of public transport have complained to classfmonline.com that most ‘trotro’ mates are refusing to recognise the new GHS5 banknote as legal tender. According to the passengers, the mates see the new note more as a collector’s item than legal tender, thus rejecting it, which sometimes leads to confrontations. According to the passengers, when … Read more
Indian police have arrested a cash handler after notes in a state bank ATM were replaced with children’s toy bills, an officer said Friday. Mohammad Isha is accused of stealing the real cash and substituting it with fake bills earlier this month when he was refilling the State Bank of India machine in New Delhi. … Read more
MoveHub, an international relocation company has rated Ghana as the most expensive country to live in on the African continent. MoveHub based its assessment on a range of costs, such as the price of groceries, transport, bills, restaurants and rents. These figures are then compiled into an index, using the notoriously expensive city of New … Read more
MoveHub, an international relocation company has rated Ghana as the most expensive country to live in on the African continent. MoveHub based its assessment on a range of costs, such as the price of groceries, transport, bills, restaurants and rents. These figures are then compiled into an index, using the notoriously expensive city of New … Read more
This is in response to a claim by a former deputy CBN chief who said 20% of the currency used by Africa’s most populous nation was fake and that was adversely affecting the economy. ‘‘Twenty percent of currency circulating in Nigeria is fake, you can’t bring down food prices if you have fake currency circulating,’‘ … Read more
No new cedi notes are being issued – BoG The Bank of Ghana has dismissed reports that it has begun issuing new denominations of the Ghana cedi’ This follows reports circulating on social media that the Bank has begun issuing 100 and 2oo cedi denominations’ In a public notice released on Thursday, the Bank of … Read more
“The note will have new durable security features which can be easily identified by the public as well as introduce other internationally acceptable security features which are sensitive to touch to aid the blind and visually challenged in identifying the banknotes,” he said at the 4th Edition of the AB & David Crystal Ball Africa … Read more
The Second Deputy Governor of the Bank of Ghana, Dr. Johnson Asiama has disclosed that the Bank of Ghana(BoG) will unveil new banknote in five-cedi (GH¢5) denominations. According to him, the banknote will be legal tender as well as a collector’s item. “The note will have new durable security features which can be easily identified … Read more
From a fall in Zambia’s Kwacha blamed on halted mining production to a plummet of Nigeria’s naira due to a chronic currency shortage, various African countries saw the value of their currencies depreciates this year, threatening economic growth. Nigeria’s naira slumped 23 percent against the dollar in June after the central bank had removed its … Read more