Bank Of Ghana Sets Up Exchange Points For Coins

Bank of Ghana has set up exchange points in all its offices - Head Office, Hohoe, Kumasi, Sunyani, Takoradi and Tamale - to change notes into coins for the general public.

The exercise is effective today, April 4, 2007.

This follows concerns expressed in sections of the media about the perceived shortage of coins. The Bank assures the general public that there are no shortages of coins. The public is advised to request for coins at any of the banks, rural banks or savings and loans company.

In view of complaints from some members of the public that some of the banks do not serve non-customers, the Bank of Ghana is providing the coin exchange provision as an added avenue for obtaining coins.

It is important that members of the general public make every effort to have on them some coins to make small business transactions such as paying for trotro and taxi fares, pure water, soft drinks, etc. easier.

The public is encouraged to determine how many coins they would need on a day to day basis and endeavour to carry the amount on them to avoid having to leave their change with traders on the excuse that they don't have coins. Likewise, traders, drivers mates, etc. should have enough coins to be able to give the appropriate change to the customers they deal with.

The banks should cooperate in this exercise by issuing out coins to both customers and non-customers alike who request them.

I hope you will bring this information to the attention of your readers and listeners.

Thank you.

Esi Hammond