Krif Ghana launches new money counting machines

Krif Ghana Limited has teamed up with Olympia of Germany and Magner of USA to introduce a new money counting machine onto the Ghanaian market.

This collaboration, Krif Ghana says, will bring to Ghana money counting machines that can count the new upgraded and security-enhanced Ghana cedi notes.

Speaking at the launch of the new money counting machines, Executive Chairman of Krif Ghana limited Rev. Kennedy Okosun said existing counting machines have had difficulty in recognizing upgraded printed notes and their new releases addresses that concern.

“Since the introduction of the upgraded new Ghana cedi notes (GHC 1, GHC 5, GHC 10, GHC 20 and GHC 50) onto the Ghanaian market in May 2019, customers have had difficulties counting their notes using the machines calibrated for only the existing currency notes.”

He added that, the machine has; “high speed performance with accurate processing of notes, as well as an enhanced IR Sensor to detect double, half and chain notes. Variable speed to process both weak and new notes,” he said.

These machines, Olympia NC-540, Olympia NC-450 and Olympia NC-620, have been designed specifically for the Ghanaian currency.

Explaining the Security features of the Olympia NC540, he emphasized that the security features such as the Ultra-Violet (UV), Magnetic Sensor (MG), Infra-Red (IR), and Contact Image Sensor (CIS) have all been enhanced to count the old upgraded Ghana cedi notes, and detect counterfeit notes.

The new enhanced security features on the upgraded notes are; a new improved security thread (RAPID), an optically variable magnetic image (SPARK LIVE), a more prominent watermark and an enhanced iridescent band at the back of the banknote.

He also noted that Krif Ghana Limited for the past 33 years has pioneered innovations in money counting machines from well-known brands such as Toyocom of Japan, Scancoin of Sweden among others.

Engineers at KRIF have been trained oversees by the management to aid in repairs and maintenance of these machines.