Mobile Money Transactions Surge to GH¢649.2 Billion in Early 2025

 

The total value of mobile money transactions in Ghana for the first two months of 2025 has surged to GH¢649.2 billion, representing a year-on-year growth of 64.68% compared to the GH¢394.2 billion recorded in the same period in 2024.

According to Bank of Ghana data, mobile money transactions in January 2025 reached GH¢333 billion but slightly declined to GH¢316.2 billion in February 2025. Despite this drop  analysts believe that mobile money transactions will continue to rise, further strengthening the financial technology (fintech) sector in Ghana.

The significant increase in mobile money transactions comes despite the Electronic Transaction Levy (E-Levy)  which was in place for most of this period but was abolished last week by the new government. The removal of the E-Levy is expected to encourage more digital financial transactions and enhance financial inclusion.

The number of registered mobile money accounts in Ghana has also grown remarkably  reaching 74.1 million in early 2025, compared to 66.9 million during the same period in 2024.

However, while there are approximately 896,000 registered mobile money agents, only 411,000 are actively operating. This indicates that while the mobile money industry is expanding some challenges still exist for agent participation.

In 2024, the total value of mobile money transactions reached an all-time high of GH¢3.0192 trillion, representing 57.90% year-on-year growth. With the continued increase in transactions and the removal of the E-Levy, industry experts anticipate even higher figures by the end of 2025.

Mobile money continues to be a dominant force in Ghana’s financial ecosystem, driving cashless transactions and supporting economic growth. The increasing transaction volumes and account registrations signal a strong future for Ghana’s fintech industry, especially with policies now favoring digital transactions.