President John Dramani Mahama has assured Ghanaians that the newly introduced Ghana cedi banknotes under the Ghana Heritage Series will not immediately replace existing currency, explaining that both will remain in circulation together while banks phase out the older notes over time.
Addressing attendees at the official launch of the Ghana Heritage Series Banknotes on Thursday, November 12, the President noted that the updated currency features a more compact size for easier handling and is printed on reinforced cotton paper to boost durability.
“As the Governor said the new cedi to be introduced today is made of reinforced cotton paper and is designed to last longer than the old currency notes they are replacing.
“The new notes will run side by side with old currency notes. We are not displacing the old currency notes. The banks will withdraw the old notes gradually until the new notes takes over completely,” the President stated.
Beyond the physical upgrades to the currency, President Mahama reflected on the cedi’s significance to national identity and daily commerce, pointing out that it has withstood numerous economic headwinds over the years.
“The cedi has travelled with us through difficult seasons. It has borne the pressures of our economy and the uncertainties that have tested our businesses and our households, yet it remains an enduring expression of our economic sovereignty,” he said.
He added that unveiling the new series served not only to honour the history of the national currency, but also to recognise the citizens whose daily efforts sustain the economy.
“As we celebrate its heritage, we also celebrate its resilience and acknowledge the patience and hard work of Ghanaians whose livelihoods depend on its strength.”
Looking ahead, the President emphasised that his administration remains focused on backing the currency with solid economic fundamentals through its New Economy Programme.
According to him, this policy framework forms the backbone of the 2027 Budget, scheduled to be presented to Parliament later on Thursday by the Minister for Finance, Dr Cassiel Ato Forson.
By: Rainbowradioonline.com/Ghana