Bank of Ghana to Roll Out Heritage Series Banknotes from December 1; Old Notes Remain Legal Tender

The Bank of Ghana will introduce its upgraded Ghana Cedi Heritage Series into circulation on December 1, 2026, with Governor Dr Johnson Pandit Asiama assuring that existing banknotes will continue as legal tender and circulate alongside the new notes. The launch, held Thursday at Bank Square in Accra and attended by President John Dramani Mahama, also unveiled plans for a new Currency Act, an in-house currency management software, and a public education app.

Speaking at the launch on November 12, Dr Asiama said the Heritage Series was designed with enhanced security features, improved durability and more portable sizes to strengthen currency protection and improve convenience in everyday transactions. The notes feature national heroes, historic sites, monuments and Adinkra symbols, bringing elements of Ghana's heritage into daily monetary transactions.

“The Heritage Series will be introduced into circulation from December 1, 2026, and will circulate alongside the existing series, which remains legal tender,” the Governor said. “This approach will allow the public and businesses to adjust smoothly to the Heritage banknotes without unnecessary disruption to economic activity.”

The new notes were produced under the theme “The Cedi, Our Future: Secure, Designed to Last,” and were printed on reinforced cotton paper with smaller dimensions than the current series, making them more durable against frequent handling and Ghana's climatic conditions. Dr Asiama said the current core banknote designs had been in circulation for more than two decades, making periodic upgrades necessary to meet modern security requirements.

President Mahama, who officially launched the series, described the cedi as a symbol of national unity and a “quiet ambassador” for Ghana. He said the historical figures, landmarks and cultural symbols on the notes would help bring the country's history closer to younger generations. The President also acknowledged the economic pressures the cedi has faced and linked the currency's strength to the government's New Economy Programme, a four-year, one-billion-dollar initiative aimed at transforming the economy through increased production.

New Currency Act in the Works

Beyond the redesigned banknotes, Dr Asiama disclosed that the Bank was working with stakeholders to introduce a new Currency Act to replace the Currency Act, 1964 (Act 242), which has governed the country's currency for decades. The proposed legislation is expected to strengthen penalties for counterfeiting and establish clearer procedures for detecting, surrendering, authenticating and destroying counterfeit notes. It will also provide stronger legal backing for the fight against the mutilation, defacement and abuse of banknotes and coins.

The Governor further announced that the Bank had developed an Enterprise Currency Operations Management Software (ECOMS) entirely in-house to improve coordination between the central bank and commercial banks in managing currency operations. Additional Cash Centres are also planned for the Bank's Ho and Tamale Regional Offices to bring currency services closer to the public.

To improve public understanding of the new currency, the Bank announced the launch of a Cedi App to educate users on the features of the Heritage Series and assist people with visual impairments. A nationwide public education campaign in major local languages will also be undertaken to help Ghanaians identify genuine banknotes and handle the currency responsibly.

Dr Asiama maintained that although digital payments were transforming the financial sector, physical cash remained an essential component of Ghana's monetary resilience, particularly when electronic payment systems experience technical failures or cyber incidents.

Background: A History of Currency Transitions

The Heritage Series launch comes as the Bank of Ghana prepares to mark its 70th anniversary on March 4, 2027. The central bank was established following Ghana's independence in 1957, and the Governor traced the historical significance of the cedi to that period of economic self-determination.

Ghana has undertaken major currency transitions before. In July 2007, the country carried out a redenomination exercise, introducing the Ghana Cedi (GH¢) to replace the old cedi at a rate of 1:10,000. A GH¢2 note was later introduced in 2010 as a bridge between the GH¢1 and GH¢5 denominations. In 2021, the Bank of Ghana announced plans to phase out the GH¢1 and GH¢2 notes in favour of coins, citing the high cost of replacing notes that returned torn and soiled, and the difficulty currency processing machines faced in handling them.

The Bank of Ghana has urged the public against rushing to exchange or withdraw existing banknotes following the launch, advising that both series will circulate together and that banks will gradually withdraw the old notes as the new ones take over. The public has also been encouraged to handle banknotes responsibly by avoiding practices such as crumpling, writing on, stapling, spraying or using money for decorative purposes including money bouquets.