Ghana Tops Global Rankings for Mobile Money System

Ghana has achieved a significant milestone in digital finance, earning the top spot globally in the 2024 GSMA Mobile Money Regulatory Index (MMRI). 

The MMRI, an interactive tool introduced by the GSMA in 2018, assesses the effectiveness of mobile money regulatory frameworks across 90 countries. It evaluates performance in six key dimensions comprising 26 indicators:

• Authorisation

• Consumer Protection

• Transaction Limits

• Know-Your-Customer (KYC)

• Agent Networks

• Investment and Infrastructure Environment

In the 2024 report, Ghana secured a score of 95.06%, surpassing its previous third-place ranking in 2023, where it scored 92.56%. Rwanda followed closely in second place with 95%, while Qatar, Malawi, and El Salvador rounded out the top five. 

Ghana's ascent to the top is attributed to its robust Mobile Money Interoperability (MMI) platform, developed by the Ghana Interbank Payments and Settlement Systems (GhIPSS). This platform enables seamless transactions between all mobile money wallets and bank accounts, effectively allowing every mobile wallet to function as a bank account. This innovation has significantly boosted Ghana’s financial inclusion rate, increasing it from below 70% in 2023 to over 90% in 2024.