Mobile money transactions surge to GH¢1.775 trillion in 2024

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).

Source:techfocus24.com