Preceding to independence, the West African Currency Board (WACB) introduced the West African Pounds, Shillings and Pence which were used in transacting business in Ghana until July, 1958. After independence the Bank of Ghana issued a new Ghanaian Pounds, Shillings and Pence on 14th July, 1958. On 19th July, 1965, the Bank of Ghana again issued another currency called the Ghana Cedis notes and Ghana Pesewa coins, this was to enable us adopt the widely accepted decimal system and also to disassociate ourselves from the British colonial monetary system.
The Ghana Cedi notes and Pesewa coins are the units of currency of Ghana. They are the fourth historical and only existing legal tender in the Republic of Ghana. The currency sign is GH₵ and currency code GHS. One cedi is divided into one hundred pesewas (Gp). The name “Cedi” was adopted from the word “sedie” meaning cowrie, a shell money which gained acceptance and broader rotation in the late 19th Century. The “Pesewa” signified the minimum denomination or quantity of the gold-dust currency rule. The name was to replace the British Colonial penny.
Since 1965 till date there have being various cedi and pesewa denominations issued in the country but currently, we have GH¢ 1, GH¢ 2, GH¢ 5, GH¢ 10, GH¢ 20, GH¢ 50 and the newly introduced GH¢ 100 and GH¢ 200 notes in complementary with 5Gp, 10Gp, 20Gp, 50Gp, GH¢ 1 and GH¢ 2 coins.
Main Features of the Ghana Cedi Notes and Ghana Pesewa Coins
- One Ghana Cedi Note (GHȻ 1): This cedi note features the picture of the Big Six, Coat of Arms, Independence Arch and the Akosombo Dam. Note colour is Red.
2. Two Ghana Cedi Note (GHȻ 2): This cedi note features a portrait of Dr. Kwame Nkrumah, Coat of Arms and the Parliament House. Note colour is Beige.
3. Five Ghana Cedi Note (GHȻ 5): This cedi note features the picture of the Big Six, Coat of Arms, Independence Arch and University of Ghana, the Balme Library. On Tuesday, 7th March, 2017, a new commemorative five cedi (GH¢5) banknote was unveiled by the Bank of Ghana (BoG) as part of activities to mark the bank’s 60th anniversary. The new note features a portrait of Dr. James Kwegyir Aggrey, Kwame Nkrumah vessel in Tweneboa, Enyenra, and Ntomme oil fields, Cowries and Coat of Arms. Notes colour is Blue.
4. Ten Ghana Cedi Note (GHȻ 10): This cedi note features the picture of the Big Six, Coat of Arms, Independence Arch and the Bank of Ghana. Note colour is Green-Yellow.
5. Twenty Ghana Cedi Note (GHȻ 20): This cedi note features the picture of the Big Six, Coat of Arms, Independence Arch and the Supreme Court of Ghana. Note colour is Purple.
6. Fifty Ghana Cedi Note (GHȻ 50): This cedi note features the picture of the Big Six, Coat of Arms, Independence Arch and the Christiansburg Castle. Note colour is Brown.
7. One Hundred Ghana Cedi Note (GHȻ 100): This cedi note features the picture of the Big Six, Coat of Arms, Independence Arch, Adinkra Symbol (Dwennimmen), Head of the Parliamentary Mace, The Chamber of Parliament. Note colour is Cyan.
8. Two Hundred Ghana Cedi Note (GHȻ 200): This cedi note features the picture of the Big Six, Coat of Arms, Independence Arch, Adinkra Symbol (Gye Nyame), State Sword, and the Jubilee House. Note colour is Orange.
9. One Ghana Cedi Coin (GHȻ 1): This cedi coin features the value of the coin (1CEDI), the name “Ghana”, the year issued (2007), the Coat of Arms, a balance scale. Color of Coin: Brass centered in Nickel-steel ring.
10. Two Ghana Cedi Coin (GHȻ 2): This cedi coin features the Jubilee House, the name “Ghana”, the year issued (2019) and the Coat of Arms. Color of Coin: Copper-nickel centered in Brass ring.
11. Five Ghana Pesewas Coin (5Gp): This pesewa coin features the value of the coin (5Pesewas), native male blowing horn, the name “Ghana”, the Coat of Arms and the year issued (2007). Color of Coin: Nickel plated steel.
12. Ten Ghana Pesewas Coin (10Gp): This pesewa coin features the value of the coin (10Pesewas), an open book with a five-pointed star on top and a pen which signifies Ghana’s education, the name “Ghana”, the Coat of Arms and the year issued (2007). Color of Coin: Nickel plated steel.
13. Twenty Ghana Pesewas Coin (20Gp): This pesewa coin features the value of the coin (20Pesewas), Cocoa pod, the name “Ghana”, the Coat of Arms, the year issued (2007). Color of Coin: Nickel plated steel.
14. Fifty Ghana Pesewas Coin (50Gp): This pesewa coin features the value of the coin (50Pesewas), portrait of Madam Rebecca Naa Dede Aryeetey, the name “Ghana”, the Coat of Arms, the year issued (2007). Color of Coin: Nickel plated steel.
