Recent data from the Bank of Ghana reveals that the total value of mobile money transactions in Ghana surged to GH₵649.2 billion within the first two months of 2025, marking a substantial 64.7% year-on-year increase.
- Total value of mobile money transactions in Ghana surged to GH₵649.2 billion in the first two months of 2025, a 64.7% year-on-year increase
- In 2024, the total value of mobile money transactions in Ghana reached GH₵3.02 trillion, reflecting a 57.9% increase from the previous year
- Monthly breakdown: GH₵333 billion in January, GH₵316.2 billion in February
This surge underscores the resilience of the country’s digital payments sector, despite regulatory adjustments.
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Monthly breakdown of transactions
In January 2025, mobile money transactions reached GH₵333 billion but moderated slightly to GH₵316.2 billion in February. This is a significant rise compared to the GH₵394.2 billion recorded during the same period in 2024.
Impact of E-Levy abolition
The impressive growth comes despite the previous presence of the Electronic Transaction Levy (E-Levy), which was abolished last week by the newly elected administration. Analysts anticipate that the removal of the levy will further accelerate mobile money adoption, strengthening Ghana’s financial technology ecosystem.
Increase in Mobile Money accounts and agents
The number of registered mobile money accounts has also risen sharply, reaching 74.1 million compared to 66.9 million a year earlier. However, while the total number of registered mobile money agents stands at 896,000, only 411,000 are actively facilitating transactions.
Record growth in 2024 transactions
Ghana’s mobile money sector continues to demonstrate robust growth. In 2024, the total value of mobile money transactions reached an unprecedented GH₵3.02 trillion, reflecting a 57.9% increase from the previous year. With the continued expansion of the sector and the removal of the E-Levy, experts predict even greater growth in the coming months.
Introduction of Mobile money
Mobile money was introduced in Ghana in 2009 by MTN, followed by Airtel in 2010 and Tigo Cash in 2012, and has since become a major part of the Ghanaian financial landscape, with a high adoption rate and significant economic impact.
Growth and Impact:
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- Mobile money has seen significant growth in Ghana, with a high adoption rate among the population.
- In 2018, 13% of the Ghanaian population were registered as active users of mobile money services.
- The popularity of mobile money is evident, with 59.7 percent of the population aged 15 and older using it.
- In 2023, there were an average of 18.6 million mobile money transactions per day, a 34.4 percent increase from the previous year.
