The Bank of Ghana (BoG) has clarified that its upcoming Heritage Series will not include a new GH¢500 denomination, dismissing reports circulating on social media about plans to introduce higher-value cedi notes. According to Dominic Owusu, Director of the Currency Management Department at the BoG, the central bank is focused on upgrading existing banknotes rather than creating additional denominations. The Heritage Series, set to launch on November 3, 2026, aims to improve the security, durability, and design of existing notes.
The BoG's clarification comes after reports on social media suggested that the central bank was preparing to introduce new and higher-value cedi notes. Owusu urged the public not to rely on these reports, emphasizing that the Heritage Series is aimed at upgrading existing banknotes. He explained that the new series will focus on improving security features, durability, and design, reflecting Ghana's heritage and aspirations. The upgraded currency is expected to contain enhanced security features to make counterfeiting more difficult and improve its ability to withstand extended use.
The Heritage Series will introduce modern designs that reflect Ghana's heritage and aspirations. The new designs are also expected to provide an opportunity to honor Ghanaian national heroes while strengthening the security and lifespan of the currency. According to Owusu, the changes will help the central bank manage the currency more efficiently and reduce the costs associated with replacing worn-out notes. The upgraded notes will circulate alongside existing notes, meaning holders of existing banknotes will not need to exchange them solely because of the launch.
Despite the introduction of the upgraded notes, existing Ghana cedi banknotes will remain valid. The BoG has previously explained that the Heritage Series is intended to give the cedi a more modern appearance while incorporating elements that reflect Ghana's heritage and national identity. The central bank aims to provide stronger protection against counterfeiting, withstand the demands of prolonged circulation, and support more efficient and cost-effective currency management.
The BoG's initiative is aimed at upgrading the banknotes already in circulation rather than creating additional denominations. Owusu emphasized that the Heritage Series will not include a new GH¢500 note or other higher denominations. The upgraded currency is expected to improve the overall quality and security of the cedi, making it more difficult to counterfeit. The launch of the Heritage Series is scheduled for November 3, 2026.
The new series will also come with improved durability and modern designs. According to Owusu, the changes will help the central bank manage the currency more efficiently and reduce the costs associated with replacing worn-out notes. The BoG has warned the public against relying on social media reports and rumors about the introduction of new and higher-value cedi notes.
The Bank of Ghana's Heritage Series is set to launch on November 3, 2026, with the upgraded notes expected to improve the security, durability, and design of existing banknotes. The central bank has clarified that the new series will not include a GH¢500 note, dismissing reports circulating on social media. The upgraded currency will circulate alongside existing notes, and existing banknotes will remain valid.
Key points
- The Bank of Ghana's Heritage Series will upgrade existing cedi notes with enhanced security and durability, but will not include a new GH¢500 denomination.
