Ghana Month series: Exploring the evolution of Ghana's currency

Money makes the world go round. It also tells a deeper story. This story involves independence, leadership, and national identity.

As part of our JoyNews Ghana Month series, we look back at Ghana's currency. At the Artist Alliance Gallery, General Manager Nii Glover shares its evolution. He reveals how historical shifts shaped today's notes and coins.

"We spent pounds under British colonial rule until independence," he explains. "In 1966, Dr. Kwame Nkrumah introduced our currency—the first cedi—with his portrait."

However, this was short-lived. After Dr. Nkrumah's overthrow in 1966, his image was removed from the Cedi. This change reflected the shifting political landscape and a rewriting of history.

Over time, Ghana’s currency has honored national figures. The 50 pesewas coin features Rebecca Naa Dedei Aryeetey. She was a businesswoman and activist who helped finance Ghana’s independence struggle.

Ghana’s banknotes also highlight national landmarks and industries. The Larabanga Mosque, cocoa farms, and Akosombo Dam appear on different denominations. These symbols represent Ghana’s heritage and economic strength.

A significant change occurred in 2007 under former President John Agyekum Kufuor. The Bank of Ghana redenominated the Cedi by removing four zeros.

This meant that the old 10,000 cedi note became today’s 1 cedi. The move aimed to simplify transactions and strengthen the economy.

Through every redesign, Ghana’s currency reflects its history, struggles, and triumphs.