Cedi is ‘long overdue for a refresh’ – Mahama

President John Dramani Mahama has stated that Ghana's cedi currency requires urgent updating, citing the need to keep up with counterfeiters. During a visit to the Upper East Region, the President explained that currencies must be refreshed every 10 years to deter counterfeiters. Mahama argued that prolonged use of the same currency makes it easier for counterfeiters to replicate it.

He maintained that the Bank of Ghana is currently considering refreshing the currency and shared his confidence that the Bank will inform Ghanaians about their plans at the right time.

The President emphasized that currency refresh would simply involve updating security features, not changing the cedi's value or implementing redenomination. He defended the current cedi's strength, attributing it to good economic management. Mahama reaffirmed that the government is committed to policies that will bolster the economy and support the cedi. He reiterated that any plans for currency refresh or redesign would be announced by the Bank of Ghana when the time is right.