Ghana launches smaller, tougher banknotes to fight counterfeiting

Ghana unveiled smaller, longer-lasting banknotes on Thursday, introducing upgraded anti-counterfeiting safeguards and designs celebrating its national heritage as it modernises its currency. The central bank said the redesign was necessary because some core banknote designs have been in circulation for more than two decades, while counterfeiting technology and international security standards have evolved.

Made from reinforced cotton paper, the new notes are designed to withstand frequent handling and Ghana’s tropical climate, reducing wear and the cost of replacing damaged currency. Improved tactile markings will also help people with visual impairments distinguish between notes, the bank said. They are also portable, moving towards the compact banknote formats familiar in Europe and other international markets.

“The new notes are also smaller and easier to handle,” President John Mahama said at an an event where the notes were launched, describing the improvements as practical changes for everyday transactions. The so-called “Heritage Series” will enter circulation on December 1 alongside existing notes, which remain legal tender, Bank of Ghana Governor Johnson Asiama said at a ceremony in Accra.

The overhaul retains eight denominations, ranging from one to 200 cedis, including the return of the two-cedi banknote. It does not change the currency’s value or amount to a redenomination. Beyond security, the new designs celebrate Ghanaian national heroes including former UN secretary-general Kofi Annan and the country’s first president Kwame Nkrumah, historic landmarks and monuments.

Ghana introduced the cedi as its national currency in July 1965, eight years after gaining independence from Britain. The redesign comes as the West African nation expands digital payments, although the central bank insisted physical currency remained indispensable. “Physical cash remains an essential pillar of our monetary resilience,” Asiama said, warning that cyberattacks, technical failures and natural disasters could disrupt electronic payment networks.

The central bank is also preparing legislation to replace the 1964 currency act, strengthening provisions against counterfeiting and the deliberate destruction or misuse of banknotes.