Mobile money transactions in Ghana reached a record high of GH¢2.368 trillion between January and October 2024, a 73% surge compared to GH¢1.367 trillion during the same period in 2023, according to Bank of Ghana data.
By the numbers
- Transactions in the first eight months of 2024 totalled GH¢1.775 trillion, reflecting steady growth.
Zoom in
- Registered mobile money accounts hit 71.9 million by October 2024.
- However, only 23.3 million accounts were active, raising questions about the gap between registration and usage.
Why it matters
- The growth underscores mobile money's role in advancing financial inclusion in Ghana.
- Yet, the Electronic Transaction Levy (E-Levy), introduced to tax mobile money transactions, has not delivered significant revenue.
Source: JoyOnline
