Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
THE REDENOMINATIO OF THE GHANAIAN CURRENCY(2007)- A STUDY OF ITS IMPACT ON THE BUSINESS OF THE FINANCIAL INSTITUTIONS IN GHANA
Blekinge Institute of Technology, School of Management.
2009 (English)Independent thesis Advanced level (degree of Master (One Year))Student thesis
Abstract [en]

Abstract The cedi is Ghana’s official currency which was introduced on July 19, 1965. The loss in the value of the cedi since its introduction cannot be overestimated. Owing to the low values of the notes and coins(due to persistent loss in value), huge quantities had to be printed and minted resulting in huge cost to the central bank. Meanwhile commercial banks were facing high cash based transaction cost because relatively large quantities of notes were needed for transactions. There was also high risk involved in cash based transaction to the banks and their clients. Bank customers were becoming more uncomfortable carrying huge quantities of cash to and from the banks. These customers also had to spend more time at the banking halls to get served. These and other factors reduced the interest and confidence of the general public in the financial sector affecting banking businesses. The re denomination of the cedi was done in 2007, to deal with these ’huge dead-weight burden’ on the banks and the entire economy of Ghana. The objective of this study is to explore its impact on some variables affecting commercial banking businesses. These are cost, operational risk, deposit mobilization, ATM operations, and reliability and convenience of banking services. A pluralistic approach was adopted for this research and the results of both the quantitative and qualitative study done in analyzing my hypothesis reaffirmed each other and provided valuable findings and deeper understanding of the impact of the re denomination on the business of the financial institutions. The main findings showed the following: 1) The re denomination had not affected costs in banks, 2) The re denomination has generally reduced operational loss risks, 3) The re denomination has generally improved deposit mobilization, 4) The re denomination has improved the reliability and profitability of ATM s, 5) The re denomination has improved the reliability and convenience of banking services. With this study I hope to provide new insights on how re denomination affects the business of financial institutions who are key partners to the central banks in the successful implementation of such exercise. I also hope to provide valuable recommendations on how banks can deal with the challenges that may be presented by a re denomination

Place, publisher, year, edition, pages
2009. , 85 p.
Keyword [en]
Redenomination, Cedi, Impact, Financial Institutions
National Category
Business Administration
Identifiers
URN: urn:nbn:se:bth-1185Local ID: oai:bth.se:arkivex3DD1936D8ECD28FBC12576B40075385COAI: oai:DiVA.org:bth-1185DiVA: diva2:828347
Uppsok
Social and Behavioural Science, Law
Supervisors
Note
+233-024-6734104Available from: 2015-05-22 Created: 2010-01-23 Last updated: 2015-06-30Bibliographically approved

Open Access in DiVA

fulltext(592 kB)367 downloads
File information
File name FULLTEXT01.pdfFile size 592 kBChecksum SHA-512
38cece8dc76341074a9b91e62a20a299a780df384889981e0e3c326695639d31e425fe2fd5e99fb8567f6a54906eba40f8a3cc3662f99ac4ae0a579b9a585c20
Type fulltextMimetype application/pdf

By organisation
School of Management
Business Administration

Search outside of DiVA

GoogleGoogle Scholar
Total: 367 downloads
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

Total: 166 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf