What is a Ghana cedi?

The Ghana cedi, introduced on July 3, 2007, corresponded to 10,000 old cedis and is the fourth historical tender in the West African country. It became one of the highest-valued currency units from sovereign countries in Africa when it was issued.

Where did the word 'cedi' come from?

The word "cedi" derives from the Akan word for cowry shell, once used as a medium of exchange, store of wealth, and religious article until British colonizers demonetized it as a form of currency in the early twentieth century. One cedi can be divided into 100 pesewas. The Ghanian cedi (GHC) is the official currency of Ghana.

When did Ghana become a Cedi currency?

In July 1965, Kwame Nkrumah —Ghana’s first President—introduced cedi notes and pesewa coins to outplace the Ghanaian pounds, shillings, and pence. After the February 1966 military coup, the anti-Nkrumah wave intoduced the new cedi, which circulated from 1967–2007.

What is the bank of Ghana's E-Cedi currency?

The Bank of Ghana (BOG) in September 2021 will pilot the digital Cedi currency also known as the E-CEDI. This was announced by the First Deputy Governor, Dr Maxwell Opoku Afare, when he addressed the media on Monday, July 12, 2021.