Ghana will no longer print its money in foreign countries under my presidency - Nana Kwame Bediako

The founder and leader of the New Force, Nana Kwame Bediako, has pledged to move the country away from engaging foreign countries when it comes to printing currency notes if given the nod in the pending presidential elections.

He argued that Ghana does not need to source the printing of its currency to firms operating in countries like Switzerland, Belarus, England, and others.

Speaking at an event to launch his manifesto on September 1, 2024, the New Force leader said he believes it is time for Ghana to print its own currency notes to harness its industrial prowess.

“With all the reserves, there is one thing that I would like to add, and I know we probably have never thought of it. Why do we buy money? Why do we have to go to England or Switzerland or Belarus to print our money and then fly or ship it before we have money?

“What happens to the industrial power that we are creating now? We are going to print money on our own. We don’t need to go to America or England to print money.

“We don’t need to go anywhere else to buy food and bring it here. We don’t need to pay seven times the taxes of what is already in our country, packaged by someone else at a premium price, and bring it back here. That stops because we are going to create them here,” Nana Kwame Bediako argued.

Over the years, Ghana has sourced the printing of its currency notes to some countries in Europe.

According to the Bank of Ghana, currency printing was an expensive and sophisticated exercise carried out by specialised firms.

In order to provide Ghana’s local currency with the needed security features, the Bank of Ghana has often engaged specialised firms like De La Rue, a security printing firm based in the United Kingdom.



MA/AE

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