BoG to Mark 60 Years of the Cedi
The Bank of Ghana (BoG) will on July 19, 2025, mark 60 years since the Ghana cedi was introduced as the country’s sole legal tender. The milestone commemorates the official replacement of the Ghana pound with the cedi in 1965 — a move that cemented Ghana’s monetary independence and symbolized a shift in economic sovereignty.
In a statement, the Central Bank said the cedi has evolved significantly over the past six decades, undergoing multiple transformations in form, structure, and policy direction to keep pace with the growing demands of the Ghanaian economy.
“The journey of the cedi reflects the country’s economic progression and the various efforts made by the Bank to ensure monetary stability, policy effectiveness, and public confidence in the national currency,” the statement noted.
From its early days as a decimal-based currency replacing the colonial-era British pound system, the cedi has gone through several iterations — including redenominations, the introduction of new security features, and digitization of currency-related services — all in response to domestic and global financial developments.
As part of activities to commemorate the anniversary, the BoG is expected to roll out a series of public education campaigns, historical exhibitions, and policy reflections on the future of Ghana’s monetary system.
The cedi’s 60th anniversary comes at a time when Ghana’s currency has been gaining strength on the foreign exchange market. According to the Ministry of Finance and recent Bloomberg data, the cedi is currently one of the best-performing currencies globally for the month of May 2025.
The Bank of Ghana reiterated its commitment to maintaining macroeconomic stability and promoting sound monetary policies to preserve the value of the cedi and enhance public trust in the financial system. The cedi, whose name is derived from the Akan word for cowry — an ancient form of currency — continues to serve as a powerful national symbol, reflecting Ghana’s economic resilience and aspiration for sustainable development.
