Mobile money transactions in Ghana have seen a significant increase, according to data from the Bank of Ghana (BoG).
According to the Bank of Ghana data Momo transactions increased from 705 million to 728 million, while the total transaction value increased from GH¢284.9 billion to GH¢298.6 billion.
However, the amount of money held in mobile money accounts has declined from GH¢25.1 billion to GH¢24.2 billion during the period under review.
The Bank of Ghana data showed an increase from September to October 2024, reflecting the growing adoption of digital financial services in the country despite persistent economic and regulatory challenges, such as ongoing debates over the E-levy.
The Bank of Ghana data also revealed the number of registered mobile money accounts increased from 71.2 million to 71.9 million, with active accounts slightly rising from 23 million to 23.3 million.
