Ghana's mobile money transactions have seen a substantial surge, reaching GH¢649.2 billion in the first two months of 2025, according to recent data from the Bank of Ghana. This marks a 64.7% year-on-year increase, underscoring the resilience of the country's digital payments sector.

The monthly breakdown of transactions reveals that GH¢333 billion was recorded in January, followed by GH¢316.2 billion in February. This significant rise compares favorably to the GH¢394.2 billion recorded during the same period in 2024.

The impressive growth comes despite the previous presence of the Electronic Transaction Levy (E-Levy), which was abolished last week by the newly elected administration. Analysts anticipate that the removal of the levy will further accelerate mobile money adoption, strengthening Ghana's financial technology ecosystem.

The number of registered mobile money accounts has also risen sharply, reaching 74.1 million compared to 66.9 million a year earlier. However, while the total number of registered mobile money agents stands at 896,000, only 411,000 are actively facilitating transactions.

Ghana's mobile money sector continues to demonstrate robust growth, with the total value of mobile money transactions reaching an unprecedented GH¢3.02 trillion in 2024, reflecting a 57.9% increase from the previous year. With the continued expansion of the sector and the removal of the E-Levy, experts predict even greater growth in the coming months.

Mobile money was introduced in Ghana in 2009 by MTN, followed by Airtel in 2010 and Tigo Cash in 2012, and has since become a major part of the Ghanaian financial landscape, with a high adoption rate and significant economic impact. The popularity of mobile money is evident, with 59.7 percent of the population aged 15 and older using it.

In 2018, 13% of the Ghanaian population were registered as active users of mobile money services. The sector has seen significant growth, with an average of 18.6 million mobile money transactions per day in 2023, a 34.4 percent increase from the previous year.

The growth of mobile money in Ghana has far-reaching implications for the country's financial inclusion and economic development. As the sector continues to expand, it is likely to play an increasingly important role in driving financial access and promoting economic growth.

With the removal of the E-Levy, Ghana's mobile money sector is poised for even greater growth, and experts predict that the country will continue to be a leader in mobile money adoption and innovation in Africa.