The Bank Of Ghana (BoG) has released its Q1 2024 report on fintech in Ghana. The report which was compiled by the Fintech and Innovation Office at the BoG provides an overview of the fintech ecosystem in Ghana including the number of mobile money agents, transaction value, and volumes from payment system providers and other players in the space.
Transaction Value Data
According to the report, Decidated money issues saw an increase in transaction value of GHC 364.83 Billion in Q1 2023 to GHC 514.85 Billion in Q1 2024.
Payment service providers saw a slight increase from GHC 56.98 billion in Q1 2023 to GHC 61.18 Billion in Q1 2024.
Transaction Volume
Transaction volume for Dedicated Electronic Money Issuers increased from GHC 1.5 Billion in Q1 2023 to GHC 1.79 Billion in Q1 2024.
However, Payment Service Providers saw a decrease from GHC 80 Million in Q1 2023 to GHC 70 Million in Q1 2024.
Mobile Money Value Distribution
In the section on mobile money value distribution, Agent to Agent had the highest value distribution with 30%.
Mobile Money Volume Distribution
In the section on mobile money volume distribution, Airtime Top Up had the highest distribution with 18% with 3rd party transfer with 17%.
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