10 Cedis

Ghana's second-republic government under the National Redemption Council, which seized power in January 1972, inherited an economy severely strained by the debts and currency mismanagement of the Bwia era. The cedi itself had already been redenominated once — the new cedi replaced the old at 1.2 to the pound in 1965 — and by the time this series entered circulation, the currency was under persistent devaluation pressure that would eventually force a complete redesign.

Thomas De La Rue's involvement with Ghanaian notes dates back to independence, and the P#16 series continued that relationship. The watermark remains the primary embedded security feature — modest by later standards, but consistent with De La Rue's output for anglophone West African issuers through this period.