BoG to establish new Cash Centres in Ho and Tamale

The Bank of Ghana (BoG) intends to set up new Cash Centres in Ho and Tamale, as part of its commitment to enhance access to currency services and bolster cash management nationwide. This move aims to bring currency services nearer to businesses, financial institutions, and the public, while ensuring efficient distribution and management of banknotes.

Speaking at the launch of the Ghana Cedi Heritage Series Notes at Bank Square in Accra, Bank of Ghana Governor Dr Johnson Pandit Asiama announced the plans. He added that these new centres are aligned with the Bank's overarching strategy to modernise its currency operations and improve the infrastructure supporting the handling of physical cash.

Dr Asiama explained that the establishments of these new Cash Centres will complement the Bank's existing Currency Processing Centres. These existing centres employ advanced banknote processing systems to sort, authenticate, and remove unfit notes from circulation, ensuring the currency in circulation is clean and genuine.

In addition, the BoG is enhancing its technological capabilities by developing the Enterprise Currency Operations Management Software (ECOMS). This homegrown system will connect the central bank with commercial banks to efficiently manage currency operations. Dr Asiama highlighted these measures as crucial steps towards maintaining the accessibility, dependability, and efficient management of physical cash, even as Ghana continues to expand its digital payment systems.