Bank of Ghana Unveils Homegrown Currency Management Software, Drawing Interest From Sister Central Banks

The Bank of Ghana has developed its own currency operations software entirely in-house, a system Governor Dr Johnson Pandit Asiama says has already attracted interest from several sister central banks. The Enterprise Currency Operations Management Software (ECOMS) was announced at Thursday's launch of the Ghana Heritage Series banknotes in Accra, alongside plans for new cash centres in Ho and Tamale and upgraded banknote processing systems.

Speaking at Bank Square, Dr Asiama said ECOMS formed part of the central bank's broader responsibility to maintain public confidence in the country's payment systems and ensure its currency infrastructure responded to the changing needs of the economy .

"And in furtherance of this objective, the Bank has developed what we call the Enterprise Currency Operations Management Software, or in short, ECOMS. And we have done this entirely in-house, leveraging our own technical expertise and internal capacity," he stated .

According to the Governor, the software is designed to improve coordination, strengthen operational efficiency and support effective currency management nationwide. "The aim of that software is to improve coordination, to strengthen operational efficiency, and to support effective currency management across the country," he explained .

Dr Asiama revealed that the innovation had drawn considerable attention beyond Ghana's borders. "I am proud to inform you that several of our sister central banks are rushing in just to learn from this innovation," he said . The development, he noted, demonstrated the Bank's efforts to build internal technical capacity and adopt homegrown solutions to improve currency administration.

Upgraded Processing Systems

Beyond ECOMS, the Bank of Ghana is expanding the use of modern technology in processing and managing physical currency. Dr Asiama said the Bank's currency processing centres were using advanced banknote processing systems to sort and authenticate notes and identify those no longer suitable for circulation .

He explained that the systems were essential in ensuring banknotes held by the public remained genuine and met required quality standards, and formed part of the Bank's continuing responsibility to protect the national currency's integrity and maintain confidence in cash transactions. The processing systems enable the central bank to separate fit notes from unfit ones, helping ensure damaged or unsuitable banknotes are withdrawn from circulation .

Ho and Tamale to Get Cash Centres

In another development, Dr Asiama announced plans to establish additional cash centres at the Bank of Ghana's regional offices in Ho and Tamale. The facilities are expected to bring currency services closer to individuals, businesses and financial institutions outside Accra .

He said the expansion formed part of the Bank's broader efforts to improve access to currency services and strengthen its operational presence across the country. The two centres are expected to support more efficient handling and distribution of cash while reducing the need for some currency-related operations to be concentrated in the capital. The Governor indicated the facilities would soon be established as the Bank continued to modernise its currency management infrastructure .

Background: A Central Bank Building Its Own Technology

The ECOMS announcement signals a deliberate shift toward internal capacity-building at the Bank of Ghana. Rather than procuring foreign-made systems, the central bank has relied on its own technical staff—a move that, if the interest from sister institutions is any indication, could position Ghana as a model for other African central banks seeking to modernise currency operations without heavy external dependence.

The new cash centres in Ho and Tamale address a long-standing geographical imbalance. Currency operations have historically been concentrated in Accra, meaning businesses and financial institutions in the Volta and Northern regions have had to rely on distant facilities for services such as banknote exchange and unfit note withdrawal. The planned centres are expected to reduce turnaround times and cut the logistical costs of moving cash across the country.

The announcements come as the Bank of Ghana approaches its 70th anniversary on March 4, 2027, and as it prepares to put the Heritage Series banknotes into circulation on December 1, 2026. The new notes—featuring national heroes, historic sites, monuments and Adinkra symbols—will circulate alongside existing banknotes, which remain legal tender .

Dr Asiama's announcements highlight the central bank's dual approach to improving currency operations: investing in locally developed technology to strengthen internal systems while expanding physical infrastructure to improve service delivery. Through ECOMS, upgraded banknote processing systems and the planned cash centres in Ho and Tamale, the Bank of Ghana is seeking to enhance the efficiency, accessibility and reliability of cash management across the country.