If you have ever tried to pay with a one pesewa, five pesewas, or 20 pesewas coin only to have it rejected at a market stall or in a trotro, you are not alone. Reports have been reaching the Bank of Ghana that many businesses are turning away these smaller coins, often forcing prices to be rounded up to the nearest Cedi.
During a media engagement in March 2026, the central bank clarified that according to the Currency Act of 1964, no person or business has the right to refuse officially issued currency. These coins remain legal tender and must be accepted for all transactions across the country.
The Hidden Cost of Rounding Up
It might seem like a small issue, but when a shopkeeper rounds a price up because they refuse to handle 50 pesewas or 20 pesewas coins, it creates a ripple effect. This practice, known as systematic price rounding, is a silent contributor to inflation.
When prices are constantly pushed upward to avoid using coins, the overall cost of living rises for everyone. The Bank of Ghana explains that while the purchasing power of smaller coins naturally shifts over time, rejecting them entirely distorts the true pricing of goods and services. This makes daily transactions less efficient and unnecessarily expensive for the average Ghanaian.
A Collective Responsibility for the Economy
The central bank is emphasizing that keeping our currency flowing is a team effort. It isn’t just about the bank printing the money; it is about the public, transport operators, and market associations choosing to honor it.
To help bridge this gap, several initiatives are being launched:
- Public Education: The Bank is stepping up campaigns to explain the legal status of coins and why they are essential for price stability.
- Stakeholder Engagement: There will be deeper conversations with those in the informal sector to encourage a change in behavior regarding small change.
- Better Distribution: The Bank is working with local financial institutions to make sure coins are easily accessible and recirculated back into the hands of traders who need them for change.
The Benefits of Using Coins
Beyond their legal status, coins are actually more cost-effective for the country than paper notes. They are incredibly durable and do not need to be replaced nearly as often as lower-value banknotes, which tend to wear out quickly in daily use.
By accepting coins, businesses help maintain an efficient currency system that benefits everyone. The Bank of Ghana remains committed to safeguarding our economy, but they are calling on every citizen to do their part by respecting all forms of legal tender. Next time you are at the market, remember that every pesewa counts toward a more stable and fair economy for all.
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