Ghana’s Mobile Money Sector Hits Record GH₵365 Billion in April Amid Policy Boost

 Ghana's mobile money ecosystem is showing no signs of slowing down, with the total value of transactions hitting a record GH₵365 billion in April 2025, according to the latest data released by the Bank of Ghana.

This figure marks a 3.8% rise from the GH₵351.7 billion recorded in March and represents the highest monthly transaction value so far this year. The sustained growth is being credited to both long-term digital adoption trends and the recent repeal of the controversial Electronic Transfer Levy (E-Levy) by Parliament in March.

The number of mobile money transactions also increased, rising from 764 million in March to 778 million in April. The steady uptick underscores the growing role of mobile money as a preferred payment method across the country—for everything from peer-to-peer transfers to business payments.

According to the Bank of Ghana’s May 2025 Summary of Economic and Financial Data, the ecosystem showed robust performance across multiple indicators. Active mobile money accounts rose to 24.2 million, while registered accounts reached 75.2 million. Mobile money interoperability—allowing seamless transfers across networks—also saw a significant leap, with transaction values increasing to GH₵4.0 billion in April from GH₵3.2 billion the previous month.

Analysts say the mobile money boom reflects rising consumer trust, improved digital literacy, and the continued expansion of agent networks nationwide. The repeal of the E-Levy, which had previously imposed a charge on electronic transfers, is also seen as a pivotal policy shift encouraging larger and more frequent transactions.

“The elimination of the E-Levy has removed a key barrier to transaction volumes,” said financial analyst Joseph Mensah. “It’s now more affordable and attractive for individuals and businesses to move money electronically.”

Industry experts believe mobile money is not only redefining Ghana’s payment landscape but also accelerating the broader push toward financial inclusion—particularly in rural and underserved communities where access to traditional banking remains limited.

With momentum continuing to build, stakeholders expect the mobile money sector to remain a central pillar of Ghana’s financial transformation in the months ahead.

SOURCE: AGENCIES