THE EFFECTS OF BAN OF MONEY BOUQUET ON BUSINESSES

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Picture showing money bouquet banned by the Bank Of Ghana. Picture credit at google.

In recent years, money bouquet trends has become a new way of celebrating loved ones on any occasion. It is like giving or receiving a gift but with cash. Giving flowers made out of different denomination banknotes for special occasions has the potential of breaking the law. 

Source at google. A picture showing a money bouquet.

Legally, it is prohibited to destroy or crumble cash in any form. These money bouquets can deface cash notes as they are done by twisting the notes in a round shape and wrapped just like flowers with the help of glue and sellotape. 

The money flower bouquet serves as a source of employment for many young men and women across the country.  The delivery fee also ranges from GH₵20- GH₵50 depending on the location.

Source at google, a picture of a gift of money bouquet.

On Thursday, March 30, 2023, the Bank of Ghana issued a warning to the public to desist from using cedi banknotes as bouquets and hampers as gifts. The reason is that the currency was issued to be used as a medium of exchange for goods and services. 

According to Mr. Dominic Owusu, the Director of the Currency Department at the Central Bank,  any other use of the currency was illegal and subject to prosecution. He said those practicing the act must be stopped. He further stated that such acts make it easier for the Cedi notes to get defaced. 




The decision by the Central Bank has got Some Ghanaians talking. Some supported the directive on Twitter by saying the Bank of Ghana should attach punishment to it while those against it said the should focus on how market women handle the cedi notes. 

Miss Erica Ampo who handles the money bouquet -gh on Instagram in an interview stated that “ the initiative from the Bank of Ghana affects her business because some of her customers do not patronize her business anymore”. She added that she’s will continue to do the bouquet until she sees the law stating it as an illegal business. She further stated that they are doing this on the basis of  good handling of the currency. “If this is illegal then the ones soiled are also illegal hence our mother's the charcoal sellers especially are at fault”.



This directive from the Bank of Ghana will however contribute to the economic hardship in the country. Those who do the money bouquet as a source of self-employment will become unemployed.


Disclaimer: All Pictures courtesy of google

Story by Joyce Yamble.

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