On July 19, 2025, Ghana’s national currency, the Cedi, will mark a major milestone—60 years since its introduction as the country’s sole legal tender.
On July 19, 2025, Ghana’s national currency, the Cedi, will mark a major milestone—60 years since its introduction as the country’s sole legal tender.
The Bank of Ghana, has announced a series of nationwide activities to commemorate the diamond jubilee of the Cedi, underlining its role as a symbol of economic independence and national pride.
The Cedi was first issued on July 19, 1965, during the presidency of Dr. Kwame Nkrumah, replacing the Ghanaian Pound as part of a broader move to sever colonial monetary ties and assert Ghana’s post-independence identity.
At the time, Ghana became one of the first countries in sub-Saharan Africa to introduce a fully independent currency following liberation from British colonial rule.
The name “Cedi” is derived from the Akan word for cowry shells, which were historically used as a medium of exchange across West Africa.
Since its introduction, the Cedi has undergone several transformations, both in physical design and monetary policy direction.
These reforms have reflected the evolving economic priorities and challenges of Ghana across decades. From the initial issue of notes and coins, through periods of inflation, redenomination, and modernization, the currency has mirrored the country’s broader economic journey.
One of the most notable reforms came in July 2007 when the Bank of Ghana undertook a redenomination exercise that saw four zeros slashed from the currency.
This move led to the current Ghana Cedi (GHS), which replaced the old Cedi (GHC) at a conversion rate of 1:10,000.
The objective was to simplify transactions, restore confidence in the currency, and enhance the efficiency of payment systems.
The Cedi has also adapted technologically, with the introduction of enhanced security features, polymer banknotes, and digitization of currency management processes.
Despite the challenges of currency depreciation and external economic pressures, the Bank of Ghana has consistently maintained the Cedi as a critical tool in its quest for price stability and macroeconomic balance.
In a public notice issued on May 13, 2025, the Bank of Ghana stated that it will host a range of commemorative events between July and December 2025.
These include official launch ceremonies, public exhibitions, educational outreach programmes, and stakeholder forums aimed at fostering greater public awareness about the history and significance of the Cedi.
“This anniversary offers an opportunity for Ghanaians to reflect on the history of the Cedi, to celebrate the progress made, and to reaffirm our collective responsibility to protect the value and integrity of the currency,” the statement read.
“In addition to being a medium of exchange, the Cedi is a symbol of our pride, heritage and shared aspirations for a prosperous future.”
The central bank has extended an open invitation to individuals, public institutions, private organisations, and development partners to participate in the celebrations.
It also reaffirmed its commitment to upholding the value of the Cedi and ensuring monetary stability.
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