On 14 May 2010, the Bank of Ghana introduced a new 2-cedi (US$1.40) banknote to meet public need for an intermediary denomination and reduce the frequency, and associated cost, of printing large volumes of the GH¢1 banknote. The bank also acknowledges that the use of a single, identical portrait (The Big Six) on all the five denominations introduced in the July 2007 re-denomination exercise (and the previous ¢10,000 banknote that was withdrawn from circulation in 2007) makes it hard for the public to distinguish between denominations. As such, the bank has chosen to recognize departed national heroes who positively impacted on the lives of Ghanaians, such as Dr. Kwame Nkrumah, whose portrait appears on the new 2-cedi note in commemoration of the centenary of his birth. The back of the note depicts the old and new Parliament buildings, signifying Ghana’s deepening democracy.

The introduction of the new coincides with the conclusion of the year-long centenary celebrations of the birth of Dr. Kwame Nkrumah, Ghana’s first president, and has the commemorative text “CENTENARY OF THE BIRTH OF DR. KWAME NKRUMAH”. Future issues of the GH¢2 banknote are not expected to have this text; making this introductory issue a collector’s item.

Courtesy of Dieter Eheim.

Tags: Ghana