Ghana’s mobile money sector has recorded a surge in the first two months of 2025, reaching a total transaction value of GH¢649.2 billion, according to data from the Bank of Ghana (BoG).
This marks a 64.68 per cent year-on-year increase, reflecting the rapid adoption of digital financial services across the country.
In January 2025, mobile money transactions amounted to GH¢333 billion, before experiencing a slight decline to GH¢316.2 billion in February 2025. Despite the month-on-month dip, the overall figures indicate a sustained upward trend in mobile money adoption.
Comparatively, in the same period of 2024, mobile money transactions were valued at GH¢394.2 billion. The sharp increase in transaction volumes highlights growing consumer confidence in mobile money as a convenient and secure financial transaction method.
In 2024, total mobile money transactions reached an unprecedented GH¢3.0192 trillion, reflecting a 57.90 per cent year-on-year growth. With the removal of the E-Levy, experts predict that Ghana’s mobile money market will expand at an even faster pace in the coming months.
Rising Mobile Money usage and agent expansion
The growth of Ghana’s mobile money sector is further demonstrated by the increasing number of registered accounts. As of February 2025, the total number of registered mobile money accounts stood at 74.1 million, up from 66.9 million during the same period in 2024.
Moreover, the number of registered mobile money agents reached 896,000, with 411,000 active agents providing financial services across the country. These agents play a vital role in enhancing financial inclusion, especially in rural and underserved communities, where access to traditional banking services remains limited.
Optimistic outlook for Ghana’s Mobile Money industry
The abolition of the E-Levy is expected to drive further growth in mobile money transactions, bolstering Ghana’s fintech landscape. With increasing trust in digital financial platforms and the expanding agent network, mobile money is poised to remain a dominant force in Ghana’s financial sector.
