Krif Unveils Counting Machines For New Banknotes

Krif Ghana Limited, a leading dealer in the sale and distribution of office stationary and equipment has teamed up with Olympia of Germany and Magner of USA to introduce a new money counting machine onto the Ghanaian market.

The collaboration between Krif and the popular brand and world-renowned manufacturer, Olympia will bring to Ghana money counting machines that can count the new upgraded and security-enhanced Ghana cedi notes.

These machines, Olympia NC-540, Olympia NC-450 and Olympia NC-620, have been designed specifically for the Ghanaian currency.

They count both the existing and the new cedi notes with enhanced security features.

Since the introduction of the upgraded new Ghana cedi notes (GH₵ 1, GH₵ 5, GH₵ 10, GH₵ 20 and GH₵50) onto the Ghanaian market in May 2019, customers have had difficulties counting their notes using the machines calibrated for only the existing currency notes.

According to Rev. Kennedy Okosun, the Executive Chairman of Krif Ghana, Krif is the sole distributor of these upgraded new counting machines from Olympia and Germany.

“The collaboration has resulted in the production of 3 models of Olympia Money Counting Machines and 2 models of Magner Money Counting Machines. The Olympia Money Counting Machines are sold and distributed exclusively by Krif Ghana only in Ghana” Rev. Okosun said.

He also noted that Krif Ghana Limited for the past 33 years has pioneered innovations in money counting machines from well-known brands such as Toyocom of Japan, Scancoin of Sweden among others.

Explaining the Security features of the Olympia NC540, he emphasized that the security features such as the Ultra-Violet (UV), Magnetic Sensor (MG), Infra-Red (IR), and Contact Image Sensor (CIS) have all been enhanced to count the old upgraded Ghana cedi notes, and detect counterfeit notes.
Counterfeit detection of fake notes as well as the new notes is a major feature of these machines from Olympia of Germany and Magner of USA.

He added that, the machine has; “high speed performance with accurate processing of notes, as well as an enhanced IR Sensor to detect double, half and chain notes. Variable speed to process both weak and new notes”, he said.
The new enhanced security features on the upgraded notes are; a new improved security thread (RAPID), an optically variable magnetic image (SPARK LIVE), a more prominent watermark and an enhanced iridescent band at the back of the banknote.
Engineers at KRIF have been trained oversees by the management to aid in repairs and maintenance of these machines.