The total value of mobile money transactions in Ghana reached GH¢1.775 trillion in the first eight months of 2024, according to data from the Bank of Ghana, marking a substantial increase from GH¢1.031 trillion during the same period in 2023.
This sharp rise highlights the growing role of mobile money in deepening financial inclusion across the country.
The data from the Bank of Ghana’s September 2024 Summary of Economic and Financial Data shows that mobile money transaction values fluctuated throughout the year.
In January 2024, transactions amounted to GH¢198.4 billion, dropping slightly to GH¢195.8 billion in February and further to GH¢181.9 billion in March.
However, by April, transactions surged to GH¢203.0 billion and continued to grow to GH¢234.3 billion in May.
Despite a slight dip to GH¢224.0 billion in June, transactions picked up significantly in July (GH¢264.9 billion) and August (GH¢273.6 billion).
MONTH 2023 2024
January 130.1bn 198.4bn
February 134.0bn 195.8bn
March 147.5bn 181.9bn
April 138.8bn 203.0 bn
May 159.7bn 243.4bn
June 149.4bn 224.0bn
July 169.6bn 264.9bn
August 161
.8bn 273.6bn