Ghana ranks first in global Mobile Money regulation

Ghana has been ranked as the global leader in Mobile Money regulation in the 2024 GSMA Mobile Money Regulatory Index (MMRI), scoring 95.06%. This marks an improvement from its 2023 score of 92.56%, which placed it third behind Rwanda and Pakistan.

The report highlights Ghana’s progress in financial inclusion, driven by its Mobile Money Interoperability (MMI) platform, developed by the Ghana Interbank Payments and Settlements Systems (GhIPSS). This platform has increased financial inclusion rates from below 70% in 2023 to over 90%.

However, the GSMA expressed concerns over the impact of consumer taxes like the E-Levy, which have reduced transaction volumes and values. Ghana achieved perfect scores in areas such as Transparency, Authorization, and Consumer Protection, solidifying its regulatory excellence.