New cedi notes to gradually replace old currency - President Mahama

President John Dramani Mahama has announced that Ghana's newly introduced Heritage Series banknotes will gradually replace the existing cedi notes as banks begin withdrawing the old currency from circulation.

Speaking at the launch of the Heritage Series on Thursday, November 12, 2026, President Mahama explained that the new notes would initially circulate alongside the existing banknotes to ensure a smooth transition.

He assured Ghanaians that the introduction of the redesigned currency would not immediately take the old notes out of circulation.

“The new notes will run side by side with the old currency notes. They are not displacing the old currency notes. The banks will withdraw the old notes gradually until the new notes take over completely,” he said.

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President Mahama explained that the new banknotes are made from reinforced cotton paper, making them stronger and more durable than the existing notes.

He added that the redesigned notes are smaller and easier to handle, making them more convenient for everyday transactions.

“The new series we introduce today is made of reinforced cotton paper and is designed to last longer than the old currency notes they are replacing. The new notes are also smaller and easier to handle,” he said.

Beyond the changes in size and durability, President Mahama said the Heritage Series reflects Ghana's history, culture and national identity through the national figures, historic places and cultural symbols featured on the notes.

He also stressed the importance of building a strong economy to support the value of the cedi, pointing to the government's New Economy Programme, which seeks to increase local production, reduce imports and boost exports.

According to him, producing more goods locally and increasing exports would help Ghana earn more foreign exchange, create jobs and strengthen the local currency.

“The strength of our currency must be felt in the everyday lives of our people,” he said.

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The new Heritage Series banknotes are scheduled to enter circulation on December 1, 2026, with the existing notes remaining valid until they are gradually withdrawn by banks.

DR/MA

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