Understanding Pesewa: The Subunit of the Ghanaian Cedi

Pesewa is a unit of currency in Ghana. It is equal to 100 Kobo, and it is the subunit of the Ghanaian cedi. The word "pesewa" comes from the Akan language spoken in Ghana, and it means "shilling" or "small money."

The use of pesewa as a unit of currency in Ghana dates back to the early 20th century, when the country was a British colony. At that time, the British introduced the Ghanaian pound, which was equal to 100 Kobo. The pound was later replaced by the cedi in 1965, but the pesewa remained as a subunit of the cedi.

Today, pesewa is used in everyday transactions in Ghana, and it is widely accepted as a form of payment for goods and services. It is also used in financial institutions, such as banks and credit unions, where it is often used to calculate interest rates and other financial charges.