The Bank of Ghana (BoG) has introduced new GHS100 and GHS200 banknotes.
The Governor of the central bank announced the introduction of the new notes at a press conference in Accra on Friday, 29 November 2019.
The BoG has also introduced GHS2 coin.
Speaking at the introduction of the new notes, Dr Ernest Addison urged the public not to misinterpret the introduction of the high-value notes to mean a shift from the central bank’s policy of pursuing a cashless society.
The Bank of Ghana (BoG) has introduced new GHS100 and GHS200 banknotes.
The Governor of the central bank announced the introduction of the new notes at a press conference in Accra on Friday, 29 November 2019.
The BoG has also introduced GHS2 coin.
Speaking at the introduction of the new notes, Dr Ernest Addison urged the public not to misinterpret the introduction of the high-value notes to mean a shift from the central bank’s policy of pursuing a cashless society.
“The introduction of these high-value notes should not be misinterpreted to mean a shift away from the Central Banks policy of pursuing a cashless society and promoting the use of electronic modes of payments. While vigorously pursuing financial inclusion by accelerating the migration to e-payment platforms, we are also mindful of the relevance of cash in our day-to-day dealings,” Dr Addison said.
He said “undeniably, cash still remains the preferred medium of payment by the large informal sector in the country. This is why we continue to pay attention to enhancements in the structure, security features and management of cash within the economy. This will stay with us for some time.”
