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The cedi (/ ˈ s iː d iː / SEE-dee, pronounced in the same way as CD) (currency sign: GH₵; currency code: GHS) is the unit of currency of Ghana. It is the fourth historical and only current legal tender in the Republic of Ghana. One Cedi is divided into one hundred Pesewas (Gp).
The E-Cedi is part of a project called the 'Digital Ghana Agenda'. Its goal is the digitization of Ghana's 30 million people, and government services. The E-Cedi is to complement the Ghanaian cedi, and serve as an alternative to physical cash, and the 'Cashlite Agenda'. [5] The three phases for the E-Cedi are design, implementation, and piloting.
In the same year, Ghana’s central bank recorded a loss of 60.8 billion cedi (more than $5 billion at the time). The country also suffered other economic shocks such as the depreciation of its ...
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The transfer rate is 1 Ghana Cedi for every 10,000 Cedis. Ghana became the largest gold-producing country in Africa after overtaking South Africa in 2019. [29] The country is also the second-largest cocoa producer (after Ivory Coast). [30] Ghana is rich in diamonds, manganese or manganese ore, bauxite, and oil. Most of its debt was cancelled in ...
In October 2022, Dapaah's two house helps, 18-year-old Patience Botwe and 30-year-old Sarah Agyei, were arrested and charged with stealing $1 million, €300,000, and millions of Ghana cedis from the minister's home between July and October 2022. The two were charged with conspiracy and multiple counts of theft.
The pound was the currency of Ghana between 1958 and 1965. It was subdivided into 20 shillings, each of 12 pence. Until 1958, Ghana used the British West African pound, after which it issued its own currency. In 1965, Ghana introduced the first cedi at a rate of £1 = ₵2.40, i.e., ₵1 = 100d.
In November 2022, a motion of censure was started to remove Ofori-Atta from office due to the decline of Ghana's economy, leading to the Ghanaian cedi being ranked as one of the worst in the world. The motion failed as it was not able to gain two-thirds majority to pass, securing only 136 votes out of 275 votes.