Ghana Cedi’s 60th Anniversary: Netizens Ask BoG To Share Money To Commemorate the Day

• The Bank of Ghana commemorated the 60th anniversary of the Cedi with a post on social media
• Many netizens who saw the post commented, with some asking that the BoG share money for all Ghanaians on such a day
• The BoG has outlined programmes it will organise to celebrate the anniversary from August 2025 to December 2025

July 19, 2025, marks 60 years of the issuance of the cedi as Ghana’s sole legal tender. Ghana’s first President, Kwame Nkrumah, introduced the Cedi notes and pesewa coins in July 1965 to replace the British pounds, shillings, and pence.

Before the introduction of Cedis and Pesewas, the issue of currency was the responsibility of the West African Currency Board (WACB). The West African pound, shillings, and pence constituted currency issued by the Board and were in circulation in Ghana until July 1958.

On July 14, 1959, after Ghana gained independence in 1957, the country had a new monetary authority, the Bank of Ghana. The BoG issued its currency in the form of Ghana pounds, shillings, and pence.

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The BoG was now formally responsible for the issuance of currency notes and coins.

In 1965, Ghana decided to exit the British colonial monetary system and adopt the widely accepted decimal system.

On July 19, 1965, the BoG replaced the Ghana pounds, shillings, and pence with Cedi notes and Pesewa coins. The Cedi bore the portrait of Dr Kwame Nkrumah.

The name ‘Cedi’ was derived from the Akan word “sedie,” meaning cowrie, a shell money which gained popularity and wider circulation in the later part of the 19th Century.

The “Pesewa” was derived from ‘Pesewabo,’ a tiny seed with big barter energy. The Pesewa represents the smallest denomination of the currency regime. The name was chosen to replace the British Colonial penny.

As of the time of introduction, the cedi was equivalent to eight shillings and four pence (8s 4d).

The Cedi and Pesewa have travelled a long way since their introduction, undergoing some changes when the managers of the currencies deem fit.

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For instance, after Dr Nkrumah was overthrown, the military government replaced the existing currency, which bore Nkrumah’s portrait, with one without his portrait.

There have also been redenomination exercises, with the most recent one being in 2007. Under the Kufuor administration, Ghana redenominated its currency by removing four zeros from the currency. 10,000 GHC became 1 GHS. This move was to simplify transactions and reduce high cash handling.

BoG to celebrate Cedi’s 60th anniversary

The Bank of Ghana earlier shared programmes and activities that will take place to celebrate the currency's 60th anniversary.

The theme for the celebration is: 60 years of the Cedi: A symbol of sovereignty, stability, and economic resilience.

The celebration will be launched in August 2025, and a thanksgiving service will be held in December 2025. In between the two months, there will be community and student engagements and a currency conference.

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Netizens celebrate the Ghana Cedi

YEN.com.gh collated some reactions to a post shared by the Bank of Ghana on X to commemorate the day. Read them below:

@kwakudarkom said:

"Ayekooo. However, is BoG proud of the management of the Cedi against the major trading currencies with our current exchange rates?"

@andah_kobina wrote:

"Congratulations… I trust BOG will print new notes with different outlooks. We can’t continue to splash the big six that never was, according to the Watson Commission Report on our currencies. We need to honour Paa Grant and emboss the Gye Nyame on our currency."

@magnusbrandsgh said:

"Share 60cedis give we all. But don't give @firstnatbankgh some. Just turn them into Micro-finance."

@GhanaTechInfra wrote:

"Do a giveaway."

@danillorules said:

"Oh, then you people for do giveaway ohh!!🌚."

@KDOdame wrote:

"Happy birthday to you, Cedi. Become one of the strongest currencies in the world. Stand tall among your peers. No more depreciation."

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@twitGhana said:

"Debit every Ghanaian with 60C 🤣🤣."

Bank of Ghana Dismisses Over 100 Staff

YEN.com.gh reported that the Bank of Ghana fired some staff who were given appointments after the December 7, 2024, election.

The affected staff served their three-month probation as stated in their letters and were asked to go home.

Source: YEN.com.gh