1 and 2 cedi notes are to phase out in due time as the central bank of Ghana has declared their decision not to print any of the two currency notes to allow the ones already in the system to disappear.
Ghana’s economy has been at a declining rate for some time now and it is largely attributed to the ravaging effects of the deadly coronavirus pandemic.
What is more worrying is the reason why anyone would choose 1 and 2 cedi coins over 1 and 2 cedi notes in any situation so we have taken it up to explain to you why it is what it is.
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Ghana as known generally is blessed with traders who primarily deal in sales at marketplaces. These traders are the very people who make the greatest use of the small currency denominations hence one may say the reason for the new decision largely can be attributed to them.
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You’d agree that, if a market salesperson and store salespersons are to handle money now, the face of the one held by the market woman would definitely change in its look because of the fact that the hands used in keeping it may have already been soiled.
Judging from the above analysis, one can confidently say that, the defacing of these 2 currency denominations; i.e the 1 and 2 cedi notes is the reason the Bank of Ghana is giving pressure in detailing out the steps take.
By this, the coins of the two notes would be much in the system for the transaction of everyday activies.
