The Bank of Ghana will introduce a new family of cedi banknotes on November 3, 2026, Governor Dr Johnson Pandit Asiama has announced, in a move aimed at strengthening the integrity of the national currency and celebrating Ghana’s heritage.
The new series, to be known as the Heritage Series, will come in the existing denominations of GH¢1, GH¢2, GH¢5, GH¢10, GH¢20, GH¢50, GH¢100 and GH¢200. It will feature enhanced security features, improved durability and modern designs that reflect Ghana’s heritage and national aspirations.
“The upgraded banknotes incorporate enhanced security features, improved durability, and modern designs that reflect Ghana’s heritage and Ghana’s aspirations,” Dr Asiama said at the 132nd Monetary Policy Committee (MPC) press conference at the Bank Square in Accra on Thursday, September 24, 2026.
The Governor said the current banknote designs have been in circulation for more than two decades, and advances in technology and security standards have made periodic modernisation necessary and prudent. The Heritage Series will also serve as a platform to honour Ghanaian national heroes and highlight elements of the country’s history and identity.
Existing Notes Remain Legal Tender
Dr Asiama was direct in addressing concerns that the introduction of the Heritage Series would render current banknotes obsolete. The existing notes will remain valid and will circulate alongside the new series once introduced.
“There is no need for the public to rush to exchange or to withdraw existing notes solely because of the introduction of the new Heritage Series,” he said.
The Governor said the Bank of Ghana would put together a detailed programme for the introduction of the new notes and communicate the modalities to the public ahead of the November 3 launch. The exercise will be similar to the currency re-denomination programme undertaken in the past, although existing notes will continue to circulate alongside the new.
Call for Proper Handling of Banknotes
Dr Asiama used the occasion to appeal to the public, businesses, traders and financial institutions to handle banknotes with care. He urged Ghanaians to avoid crumpling, writing on, stapling or using currency for decorative purposes such as money bouquets and spraying at events.
“Proper handling will help preserve the quality of our banknotes. It will reduce replacement costs for the central bank, and it will support efficient currency management,” he said.
He framed the integrity of the cedi as a collective responsibility. “Preserving the integrity of the banknotes is not the function of the Bank of Ghana alone; it is a shared responsibility,” he stated, calling on all Ghanaians to embrace the Heritage Series with pride and a commitment to maintaining the quality of the country’s currency.
When asked about the cost of the rollout, Dr Asiama said the Bank had budgeted for it and that it would be reflected in the 2026 audited accounts.
Policy Rate Held at 14%
On monetary policy, the MPC unanimously voted to maintain the policy rate at 14 per cent for the third consecutive meeting. The decision was in line with expectations of economists surveyed by Bloomberg.
Dr Asiama said headline inflation, at 5 per cent in August, is well below the lower bound of the 8±2 per cent band despite domestic cost pressures in housing, transport and services. Exchange rate stability has contained imported inflation, and expectations have eased across all surveyed groups.
Inflation reaccelerated to 5.0 per cent in August 2026 from 4.6 per cent in July, driven largely by non-food price growth, according to data from the Ghana Statistical Service. Fresh tomatoes emerged as the single biggest contributor, accounting for 23.1 per cent of the overall inflation rate and surging 158.3 per cent year-on-year.
The Governor said the average banking lending rate declined by 15.9 per cent, while private sector credit growth rebounded. The banking sector remained solvent, profitable and liquid, with the Non-Performing Loan (NPL) ratio declining to 15.7 per cent. Latest Bank of Ghana data shows the industry NPL ratio improved significantly to 16.1 per cent in June 2026 from 23.1 per cent in June 2025.
Global and Domestic Outlook
On the global scene, Dr Asiama said geopolitical tensions have constricted global supply chains, with wars in Ukraine and the Middle East continuing to stoke inflation through higher grain and energy prices. On the domestic front, the Committee observed continued economic resilience activities.
“The balance of risks to inflation and growth is broadly balanced,” the MPC stated in its unanimous decision to retain the rate.
The Heritage Series launch is scheduled for November 3, 2026, at the Bank Square in Accra, where detailed modalities for the introduction of the new notes will be announced.
