10th June 2008 under What I think

Ghanaians and the 5 pesewa logic

Almost a year ago a new set of bank notes and coins were released by the government to replace the old bulky and cumbersome notes. I mean who wanted to carry a bank note worth 20,000 cedis which is equivalent to just 2 dollars. This move was embraced by everybody and I think one year down the line we are all still getting used to it. At least my parents cannot laugh at me that our generation didn't spend pesewas. For me when these new notes and coins were released I was happy because we were now going to be able to pay arbitrarily any price for anything. It was the end of the era where everything was increased by 500 cedis when the prices of fuel shot up.

As part of the new coins and bank notes was the 1pessewa coin. This coin was to be the smallest unit of payment making any arbitrary payment amount possible. However a year down the line the 1 pessewa coins are almost non existent. I surprised the other day when I took a tro-tro and saw one. The mate gave it as change to one of the passengers and she refused to take it. Nobody took the coins in the car so I took it. I was then asking myself why don't they want the 1 pessewa coin. And also come to think of it we still increase the prices of things by 5 pessewas as soon as the prices of petrol shoots. So what I am really worried about is where are we going with all this? If we don't accept these coins then I think we are just going back to the era where everything increased by 5. This 5 pessewa logic would kill us.