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07.06.2007 Business & Finance

Bank of Ghana Ladies educate Tamale traders on re-denomination


The Tamale branch of the Ladies Association of the Bank of Ghana on Tuesday embarked on an educational drive on the re-denomination exercise of the cedi in the Central and Aboabo Markets in the Metropolis.

Ms. Lucy Nsiah-Asare, President of the Ladies Association who led the group said awareness of the re-denomination had already been created among the traders and that the main problem was how to calculate and convert the old notes to the new ones.

She said after some initial problems the market women were quick to understand the calculations.

She said the education exercise would be sustained even after the new currency had been introduced in July to enable everyone to properly understand that the value of both currencies were the same.

Mr. Jacob Teye Kudah, Banking Manager, said the education on the re-denomination exercise in the rural areas was entrusted to the information Services Department and the National Commission for Civic Education (NCCE).

He said the Bank of Ghana was only to monitor the exercise carried out by the two institutions to see if it had been successful.