Alsale Services Limited, an Information Technology (IT) oriented solutions company over the weekend launched its “SB9 Value Counting Machine” which detects counterfeit bank notes in Accra.
The SB9 machine, which has a dual user system that allows two tellers to use it at the same time, a serial number printing and an easy upgrade system, among other features, has the capacity to detect counterfeit currencies in cedis, dollars, the British pounds and Euros.
A former Deputy Governor of the Bank of Ghana (BoG), Emmanuel Asiedu-Mantey launching the product, bemoaned the rise in counterfeit notes in several parts of the world, which he said had adverse effects on the global economy.
In Ghana, Mr. Asiedu-Mantey attributed the influx of counterfeit notes to the over reliance on the use of ‘cash’ in business transactions instead of the electronic payment systems.
He said, “various attempts has been made by the BoG to encourage the use of cash substitutes, including ATMs, credit cards, money wallets, e-zwich, among other electronic payment systems, but patronage is still very minimal in the country at the moment”.
“Cash still dominates in business transactions and this has affected the smooth execution of the BoG’s Clean Note Policy which seeks to ensure expeditious withdrawal of soiled and mutilated bank notes from circulation,” he noted.
The former BoG Governor lauded the company for inventing the counterfeit machine, which he believed would help address the challenges in the banking industry adding, “the SB9 counting machine has gone through vigorous certification process by the BoG and has successfully passed on the application of a Deposit Money Bank”.
He urged that the SB9 is periodically upgraded to boost its security features to easily track, identify and eliminate sophisticated counterfeit notes that may try to beat the system.
Mr. Ahmad Adade Boakye, Managing Director of Alsale Services said the company was poised to deliver state-of-the-art equipment and solutions to its clientele across the West Africa sub-region to safeguard the integrity of financial institutions.
“The SB9 offers the best solution to counting, counterfeit and mixed denomination challenges and value detection through the use of state-of-the-art image processing technology,” he noted.
He, therefore, urged all companies involved in money counting transactions to patronise the SB9 machine to promote effective and efficient operations.
By Abigail Annoh