Sixty years ago today, Ghana took a bold step following its break from British colonial rule by adopting the cedi notes and pesewa coins to replace the Ghana pounds, shillings, and pence.
On July 19, 1965, Ghana officially adopted the cedi as its national currency.
This wasn’t just a change in symbols or coins, it was a declaration of independence, reflected in every wallet and marketplace across the country.
But how did Ghana achieve this milestone?
In 1957, Ghana made the decision to formally leave the British colonial monetary system and adopt the widely accepted decimal system.
The change was spearheaded by President Dr Kwame Nkrumah, who envisioned a Ghana that could chart its own economic course.
The name “cedi” was derived from the Akan word for cowry shell, a traditional form of currency used in Ghana long before paper notes and coins were introduced.
This transformation was not merely financial or economic, it was a powerful symbol of national identity and control over Ghana’s economic destiny in the post-independence era.
Sixty years later, the cedi remains a cornerstone of Ghana’s economic journey and transformation.
As Ghanaians tap, swipe, and transfer the cedi in today’s digital economy, the legacy of the 1965 currency shift endures, making July 19 a monumental day for Ghana’s financial history, especially for the Bank of Ghana.
— Bank of Ghana (@thebankofghana) July 19, 2025
SP/MA
How Virtual Reality is enhancing business and customer experience
