Mobile Money adoption surges as transaction value reaches GHS 335bn

Mobile Money transactions in Ghana reached GHS 334.8 billion in December 2024, up from GHS 316.4 billion in November, with 745 million transactions recorded.

This marks significant growth compared to December 2023's GHS 199.3 billion and 657 million transactions, reflecting the rising adoption of digital financial services.

The Bank of Ghana's data reveals fluctuations in 2024, starting with 618 million transactions worth GHS 181.9 billion in January.

By mid-year, June transactions reached GHS 224 billion and 644 million, maintaining upward momentum through the year. October saw GHS 298.6 billion in value and 728 million transactions.

This growth, driven by advances in mobile technology and financial inclusion, underscores Ghana’s shift toward a cashless economy. Analysts predict sustained expansion in mobile money usage, contributing to economic modernization and growth.