Business of 2007-05-03

Comments on Article

New Ghana Cedis, Pesewas Out Today


IS BETTER
Author: SIMON (OBUASI)
Date: 05-04 08:39 

WE ARE ALL LOOKING FORWARD FOR IT,COPIES SHOULD BE SENT ROUND FOR THE MESSAGE TO GO CLEAR.
FACES?????? 4 HONOR???
Author: BANSERO
Date: 05-03 18:44 

I hope the images on the new currencies would not be full of past NPP patriots. If it turns out to be, then ?????? God save us.
ferelo in lebeya
Author: blahk moses de surenam.
Date: 05-03 18:28 

to be frank am real want to know if it 'll work?
Is it 4 Zeros or what
Author: Nana Boateng
Date: 05-03 14:17 

am sorry but how could ¢1,000,000 be ¢100,000 and ¢10000 be ¢ 1.00,
some one pls tell ans this or it must be that the writer did not know what he/she was writing
denimination
Author: abba
Date: 05-03 13:30 

please the first paragraph is not clear. it shd read ¢100 is equivalent to now ¢1,000,000 instead of ¢100,000 to ¢1,000,000.00
one cedi ? 0ne dollar
Author: Asie
Date: 05-03 12:50 

the removing of the zeros from the old cedis, whether it been 4 or 2 zeros.... one cedi is not equivent to one dollar. if we want 1 cedi to be equivent to a dollar, we have to improve our workforce. And also the central bank have to pegge/fix our currency against the dollar or other currencies. in this way the value will not change. Our exchange rate system is determined by the free market which i think somehow it not good because our economy is not strong.
SOMEBODY HELP ME
Author: BOY KOFI
Date: 05-03 12:14 

THIS WRITER SHOULD SPARE US WITH
MATHS BECAUSE HE DIDN'T FINISH THE
OLD & NEW CEDI CONVERSION.
1000000 =100
100000 =10
10000 = 1 cedi

1000 = 10 pesewa
100 = 1 pesewa
50 =1/2 pesewa
25 = 1/4 pesewa
destroy the old money
Author: dan-atl ga
Date: 05-03 12:01 

as it returns to bank for deposit
Re: BoG Launches Ghana Cedis, Pesewas Tomorrow
Author: nuprust
Date: 05-03 11:44 

the article on this site is quite confusing. they must have made some sort of typo. look at it closely:
if 100,000 replaces 1,000,000
and 10,000 replaces 100,0000,
how come 1.00 is to 10,000?
the constant of proportionality between the 1st two statements is 10 whilst it is 10,000 for the latter.
could some1 else check that out?
Check your facts
Author: ben
Date: 05-03 11:38 

Check your facts. You are adding too many zeros.
EVERYTHING IS NOW NEW
Author: Emmangel
Date: 05-03 10:51 

Bcos the is new Ghana ceci, pple are taking the opportunity to make everything involving figures new; new Maths, new calc, etc.
Mevil Dewey didn't succeed with his new sys of spelling, so, you wont also succeed
pls correct the mistake or del
Author: Emmangel
Date: 05-03 10:45 

This mail is accessible worldwide. It's a disgrace to Ghana, so reporter, correct yourself or delete it. I don't second the adoption of this document
I love the new cedi!
Author: Young Bajan Lion
Date: 05-03 10:34 

I love the idea of redenomination.

This is one of the BEST THINGS that has happened to Ghana since independence!

It proves that there are progressive people in Ghana who are THINKERS.

Long live the new cedi.

Nuff Respect, Young Bajan.
new denominations, new ideas..
Author: joe
Date: 05-03 10:10 

I think just changing the current money is not enouth. The nation also neads to be educated on the use of "wallets" to help keep the money from crampling under the "abosoo" of market women. We need to keep the money neat and people should be punish for scrambling the money at the cost of the state. God bless Ghana.
correction
Author: winfred
Date: 05-03 09:42 

pls there is a mistake with 100,000 representing 1,000,000 webmaster pls correct it.it should be 100=1,000,000.thanks
Re: BoG Launches Ghana Cedis, Pesewas Tomorrow
Author: grandpa
Date: 05-03 09:16 

At the time of launching the new Cedi notes, the BoG must post the exchange rates against the major currencies. Originally, they said three zeros would be eliminated: thus 10,000 olds cedis would become 10 new cedis. Now they are throwing around a rate of $1 = 94 Pesewas. BoG must ensure that all lingering confusions are cleared before matters get out of hand.
GREAT IDEA
Author: NII
Date: 05-03 09:12 

OUR MONEY SO BULKY.ARM ROBBERS LOOSE THEIR JOB
10,000 Cedis = 1 New Cedi
Author: Fran
Date: 05-03 09:00 

Where're the new notes and coins? are available?
US ECONOMY AND GHANA'S
Author: KOLA,LONDON
Date: 05-03 09:00 

ONE CEDI CAN BE EQUAL TO ONE DOLLAR IF OUR ECONOMY CAN EQUATE TO THAT OF THE USA (CETARIS PARABUS) BUT IT IS UNFORTUNATE THAT OUR FEEBLE AND FRAIL ECONOMY IS NO WHERE TO BE COMPARED TO THAT OF THE USA.

EVEN TOGO'S ECONOMY IS PRESENTLY STRONGER THAN THAT OF GHANA.TO THINK THAT CEDI IS OR WILL BE EQUAL TO THE DOLLAR IS PRACTICALLY NOT FEASIBLE.THIS CAN NEVER EVER HAPPEN IN THIS COCAINE,LOW IQ, AND NEPOTISTC NPP ERA.
Your Maths are Incorrect
Author: Albert
Date: 05-03 08:44 

If the current 10,000 cedis will be represented by 1 cedi in the new currency, then I think you guys are confusing people. You should retract your article and make corrections. All your maths are incorrect. 10 cedis not 10,000 will represent 1,000,000 cedis.
Ghana ridding too high////////
Author: enoch adu fokuo. atlanta
Date: 05-03 08:40 

High speed,NO Spell tire.WHAT YOU GONNA DO IF YOU HAVE FLAT TIRE?????THINK ABOUT IT BEFORE SPEED.
"NEW GHANA CEDIS & PESEWAS"
Author: Isaac - Son Of Moses
Date: 05-03 08:30 

CORRECTION

c1,000,000 Old Cedis = c100,000 New Cedis

c100,000 Old Cedis = c10,000 New Cedis

Therefore c10,000 Old Cedis should be equal to c1,000 New Cedis AND NOT c1 New Cedis.

Thank you
Calculus of Variation
Author: Mr. Jacobi, China
Date: 05-03 08:27 

Using Jacobi's theory and calculus of variations, the new cedi in the actual sense has been devalued..
THIEVES
Author: Chief Kufuor
Date: 05-03 08:24 

WE DON'T TRUST GYIMI-KUFUOR AND HIS FORTY THIEVES.
DIDN'T YOU GO TO CLASS 1?
Author: TWAAA
Date: 05-03 08:23 

please do your calculations well. didn't u go to class 1? 1000000/10000=100 and 100000/10000=10. correct your stupid mistake!!!
ENCOURAGE CREDIT CARD
Author: Kwame LI, Far East
Date: 05-03 08:16 

I think Bank of Ghana should encourage Ghanaians to use Credit cards.
NEW GHANA CEDIS AND PESEWAS
Author: ALFRED KWAKU OCRAN
Date: 05-03 08:16 

one million cedis will be one hundred cedis and not one hundred thousand cedis, please stop confusion the innocent masses, you web publishers, thank you for attemting to rectify your error.
VERY STUPID REASONING!!
Author: submarine
Date: 05-03 08:04 

"Officials of the bank say the added advantage of the new currency is that it would be less cumbersome to carry and also enhance business transactions while maintaining the value of the Ghanaian cedi."

Why didn't we create bigger denominations instead of spending billions to go through this cycle which will be reapeated in a decades time? What Ghanaians don't know is that this project was specifically created to help the administration and its supporter steal and pocket billions of cedis and dollars in preparation for the 2008 elections.

Many countries have kept the same currencies for hundreds of years with no problem. Why is that we the poor always have to take a loan to re-create our currency? God is watching all your evils and myopic projections.
New Ghana Cedis
Author: maame efua
Date: 05-03 07:55 

Esi Hammond of the Public Relations Unit, Bank of Ghana. “It is not the redenomination or re-calibration of the cedis that would check prices and thus influence inflation but the interplay of sound macro-economic practices.


WHAT EXACTLY DOES THIS MEAN IN THE LAYMAN'S TERM ????????
New Ghana Cedis, Pesewas Out T
Author: ADWOA
Date: 05-03 07:52 

This is as confusing as ever.
Some Sloppy Math
Author: Nana
Date: 05-03 07:48 

Whoever wrote this report should go back and collect his/her fees from the schools he/she attended. The Math is very sloppy.
know your facts
Author: kofi abakah
Date: 05-03 07:43 

esi hammond, come out clean with facts for us ordinary people. don't beat about the bush. help us with facts so we can help our 'poor' parents with remittances. somebody is going to 'fill' the belly with this redenomination.
When even Journalists screw it
Author: william
Date: 05-03 07:25 

I am amazed that after all the public education Journalists (reporters and their editors will still screw the mathematics. Just read the first line of this article 100,000 is our present 1,000,000. even after all the noise that 10,000 cedis is equal to 1 GHCedis.
1000000 cedis become 100 GHCedis simple as that.
don't confuse ghanaians
Author: yaa yaa
Date: 05-03 07:23 

Still i don't get it. The Government is going to destroy our money. Why, please have mercy on the poor. B'cos when you lost 10000GH you have lost one million. Please don't change the money.
COVER UP FOR DOMESTIC EXPDTURE
Author: KOLA,LONDON
Date: 05-03 07:20 

THIS IS JUST SIMPLY TO COVER UP FOR THE HUNDREDS OF TRILLIONS IN THE CURRENT DOMESTIC EXPENDITURE.

NPP CAN RUN AWAY BUT YOU CAN NOT RUN AWAY FROM YOURSELF. THESE NPPS WERE USING DOMSETIC EXPENDITURE OF NDC ERA TO CAST A BAD IMAGE ON THE NDC GOVERNMENT BUT HERE WE ARE THESE SAME GOVT IS TRYING TO COVER UP HUNDREDS OF TRILLION CEDIS IN DOMESTIC EXPENTURE WITH CEDI REDENOMINATION.GUYS WAKE UP,THIS WILL NOT SOLVE THE GALLOPING INFLATION.
Simple Mathematics
Author: Bab-Rome.
Date: 05-03 07:08 

If the current ¢10,000 would be the same as ¢1, then cross check the figures you have pasted on joy website.It should be ¢100 would represent the current ¢1,000,000 etc.Oh Ghanaian Journalists! Simple mathematics
Re: BoG Launches Ghana Cedis, Pesewas Tomorrow
Author: ED
Date: 05-03 06:34 

ARE OK, GHAWEB? THE EXAMPLES U AR USING ARE WRONG. PLEASE CHECK IT OUT.
YOU GOT IT ALL WRONG, SIR!
Author: Kwame Kumi
Date: 05-03 06:33 

I wonder how GHP could get this all so wrong.

It's not true that "When the redenomination takes effect, ¢100,000 would represent the current ¢1,000,000.00 and ¢10,000 the current ¢100,000...".

Rather, ONE MILLION CEDIS(GHC1,000,000.00) will become ONE HUNDRED CEDIS (GHC100.00) while hundred thousand Cedis (C100,000.00) will become TEN NEW CEDIS (GHC 10.00).

Please don't confuse the public.
The right convertions
Author: FRANK(TOR)
Date: 05-03 05:42 

The government has got a huge task to educate the public and l think that the education process should be intensified.It is sad to see the so called educators misinterpreting the convertion rate of the new Ghana cedi, l'm saying this in relation to some incorrect convertions l saw today in the business news editorial, titled "new Ghana cedis, pesewa out today".The right people must dispatch information.
Don't confuse us.
Author: Abeiku
Date: 05-03 05:29 

Why are u confusing us? If you take 4 zeros from ¢1,000,000.00, you should have ¢100.00 and not 100,000.00. Don't confuse the public please
WISE CHANGE FROM A WISE PRES
Author: AMA BONSU, NKORANSA NORTH
Date: 05-03 05:16 

IT WILL NOW BE DIFFICULT TO TARGET PEOPLE ON THE STREETS. BURGERS WILL BE SAFER THAN BEFORE BECAUSE MONEY WILL NOT BE CARRIED IN BIG BAGS AS BEFORE. IT WILL ALSO NOT BE SHY TO TELL THE RATES OF OUR CURRENCY TO OTHER FOREIGNERS ABROAD. WITH THE CURRENT CURENCY, IT IS A SHAME TELLING AN OUTSIDER THAT £1 IS EQUICALENT TO 18,000.00. GOOD JOB DONE, PRES. KUFOUR. IF RAWLINGS HAD DONE THIS, HE WILL WITHDRAW ALL THE BIG NOTES INTO HIS SWISS BANK ACCOUNTS BEFORE PROCEEDING. THIEF RAWLINGS - OLE RAWLINGS.
CEDI RE-DOMINATION WEBSITE
Author: kweks
Date: 05-03 04:59 

This is the Ghana cedi re-denomination website. It clarifies everything.

www.ghanacedi.gov.gh/
WRONG
Author: Kind JOB
Date: 05-03 04:58 

Yours figures I amafraid are wrong.
1GHC=C 10,000
S0 GHC10,000=C1,000,000, Etc
Placebo Pill!!
Author: Osram
Date: 05-03 04:56 

We want people to be able to carry large amounts in their pockets rather than in bags or sacks!

--------------------------------

If Ghanains had so much money to carry, their babies will not be held as prisoners at Korlebu and they will not be selling pure water and dog-chains on the Streets of Accra.

It is a lie that Ghanaians have too much money to carry. Over 85% of Ghanaians live in poverty from hand to mouth. Majority of Ghanaian workers salary are spent before even the end of month. Cocoa farmers have to borrow for their daily existence. Even CocoBod has to borrow money from international banks to pay farmers to prevent them from starving.

Only few Ghanaians have millions to carry in rubber-bags and sacks. In some communities in the Upper West Region, majority of the people have not seen even C200,000 in a year. That is why their young girls run away to Accra to do 'Kaya' for C5,000 per load.

So the theory that Ghanaians have too muc money to carruy is a misnomer. Its not true. This is just a placebo pill to make Ghanaians feel good for the failure of this government.

What is needed is good policies for economic growth and a hold on corruption which continues to impoverish Ghanaians.

Until this is done, you can even redominate the Cedi to C0.5 = $1.00 and babies will still be held in the prisons of Korle-Bu for lack of payment!
NPP HAVE KEEP 2B CEDIS IN HOME
Author: Ayalolo
Date: 05-03 04:12 

NPP HAVE KEEP 2B CEDIS IN HOME.
WRONG MOVE, MARK MY WORDS?
Author: Wiseman
Date: 05-03 04:10 

I dont know who the hell advised this goverment to make this wrong move! The Cost is certainly higher than the benefit. I immediate result will rounding of prices of pure water etc up leading to an increase in the general price levels and fixed income earners will be worse off.
wrong
Author: Akonta
Date: 05-02 17:59 

The G. Observer's calculation is wrong the current 1,000,000 is goindg to be 100 new Ghana cedis and the current 100,000 will be 10 new Ghana cedis
How much Is It Costing
Author: Konciuos
Date: 05-02 16:19 

They've still not answered how much its going to cost us?
and our dumb mp's have gone to sleep. God help Gh.
Re: BoG Launches Ghana Cedis, Pesewas Tomorrow
Author: Mantse
Date: 05-02 14:42 

Please have this article withdrawn as it is grossly misleading in terms of the rates quoted for New cedis exchanged for old cedis.

Please, let's get serious for a change when we are dealing with such global issues.

The source of this article is a serious embarrassment to Ghanaias everywhere.

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