ACCRA — The Bank of Ghana is to establish new cash centres in Ho and Tamale, Governor Dr Johnson Pandit Asiama has announced.
BRINGING CASH CLOSER TO THE PEOPLE
The new cash centres in Ho, in the Volta Region, and Tamale, in the Northern Region, are expected to improve the supply, sorting and distribution of clean, genuine banknotes to banks and businesses in the two regions and beyond.
For years, banks and traders outside Accra have had to rely on longer supply routes for cash. That has often meant delays, higher costs, and a greater risk of shortages of clean notes, especially during festive seasons and market days.
The new centres are intended to change that by bringing the Bank’s cash operations closer to where people live and trade.
GOVERNOR ASIAMA SPEAKS
Governor Dr Johnson Pandit Asiama said the move forms part of the Bank of Ghana’s effort to modernise cash management and to make the financial system work better for everyone, not just those in the capital.
He said the centres will support the rollout of the new Heritage Series cedi notes, help banks to access clean notes faster, and strengthen the fight against fake notes by making verification and sorting easier and closer to the regions.
WHAT IT MEANS FOR HO AND TAMALE
1. Faster access to cash: Banks in Volta, Oti, Northern, Savannah and North East Regions should get clean notes quicker.
2. Better quality notes: Worn and torn notes can be withdrawn from circulation faster and replaced with new ones.
3. Stronger local economy: Traders, farmers and small businesses depend on cash. A reliable cash system keeps markets moving.
4. Jobs and confidence: New centres mean new activity, new jobs and greater confidence in the regional economy.
What does this mean for your business in Ho or Tamale? Tell us below.
Published on Howedey.com
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