Omanghana
The Convention People’s Party (CPP) has called on the Bank of Ghana (BoG) to maintain the circulation of pesewa coins and reject any proposal for a phased withdrawal of smaller denominations, arguing that such a move could worsen retail price inflation across the country.
In a statement issued by the party, Acting National First Vice-Chairperson Joyce Larbie expressed concern over the growing refusal by some traders, transport operators, and businesses to accept 5, 10, and 20 pesewa coins as legal tender.
According to the CPP, the widespread rejection of these denominations has contributed to the practice of rounding up prices, forcing consumers to pay more for goods and services than they otherwise would. The party believes this trend is creating artificial price increases and placing additional financial pressure on ordinary Ghanaians.
Larbie argued that the continued disregard for pesewa coins undermines the integrity of the national currency and weakens public confidence in the cedi. She maintained that every denomination issued by the Bank of Ghana has value and should be accepted in commercial transactions without discrimination.
The CPP further contended that the refusal to accept smaller denominations fuels inflationary pressures by encouraging price adjustments that disproportionately affect low-income consumers. The party warned that any move to withdraw the coins could institutionalize the practice of rounding up prices, making everyday goods and services more expensive.
As a result, the CPP is urging the Bank of Ghana and the Ministry of Finance to take decisive action to protect the legal tender status of the 5, 10, and 20 pesewa coins. The party is also calling for stricter enforcement measures against individuals and businesses that refuse to accept the denominations during transactions.
According to the CPP, public education campaigns and regulatory enforcement are necessary to ensure that all forms of legal tender remain in circulation and are accepted nationwide.
The party believes that preserving the use of pesewa coins is an important step toward promoting price transparency, protecting consumers, and strengthening confidence in Ghana’s monetary system.
The call comes amid ongoing discussions about the practicality and usage of low-value coins in the economy, with some stakeholders arguing that inflation and changing market prices have reduced their relevance. However, the CPP insists that maintaining the denominations remains essential for accurate pricing and effective currency management.
The party has therefore urged policymakers and monetary authorities to prioritize enforcement over withdrawal, stressing that the solution lies in ensuring compliance with existing legal tender laws rather than removing smaller denominations from circulation.
Source: Omanghana
