BoG takes currency education to markets

By Joshua  AMLANU

The Bank of Ghana has undertaken a nationwide currency-education campaign as part of activities marking the cedi’s 60th anniversary, taking its sensitisation drive directly to traders in informal markets where most banknotes circulate.

Governor Johnson Pandit Asiama led the outreach at Accra’s Makola Market, urging traders to adopt better handling practices to extend the lifespan of banknotes.

The cedi has been central to the country’s economic journey since its introduction six decades ago, reflecting shifts in policy, periods of reform and the everyday financial routines of households and businesses.

The engagement forms part of a broader effort to reduce the rapid deterioration of currency notes, which the central bank says results in high replacement costs. The cedi continues to dominate transactions in markets, shops, farms and transport hubs, making traders key to the campaign’s success.

Dominic Owusu, Director of Currency at the Bank of Ghana, said the campaign aims to correct longstanding habits that damage banknotes.

He explained that the initiative, dubbed ‘Handle the cedi with Dignity’, aims at encouraging Ghanaians to keep notes clean and intact.

“We must stop crumpling the money,” he said, noting that squeezed and folded notes wear out faster and undermine security features. He added that replacing damaged notes requires foreign currency, which increases costs for the central bank.

Mr. Owusu said the sensitisation exercise will move beyond Accra to markets across the country in coming months. He stressed that officials intend to maintain a physical presence in trading centres to demonstrate proper handling techniques and reinforce the cedi’s importance as a national symbol.

“The Ghana cedi is our heritage and our identity,” he said.

Market leaders welcomed the central bank’s direct engagement, describing it as long overdue.

Naa Afrowa NeeDjan, president of the Greater Accra Market Association, said this visit marked the first time senior officials from the central bank had interacted closely with traders in the market. She said the demonstrations on how to keep notes neat were useful and that the association will extend the education to its members.

“They have shown us how to fold the money and where to keep it so it remains clean,” she said.

She noted that traders had also raised concerns about pricing, saying the recent stability of the cedi has brought some relief. According to her, imported goods priced in dollars should reflect the stronger exchange rate.

She argued that wholesalers should adjust their prices downward so retailers can pass reductions on to consumers. “Those in the stores should reduce their goods’ price,” she said.

The central bank’s sensitisation exercise also took place at Kaneshie Market as well as Madina Market. The Bank says it will continue market engagements as part of efforts to preserve the currency and ensure proper usage nationwide.

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