Ghana’s mobile money sector has reached a new milestone, with total transactions hitting GHC365 billion in April 2025, according to the latest data from the Bank of Ghana. This marks a 3.8% increase from the GHC351.7 billion recorded in March, making it the highest monthly transaction value so far this year
The number of mobile money transactions also rose from 764 million in March to 778 million in April, reflecting the increasing reliance on digital financial services for both personal and business transactions.
Analysts attribute this growth to greater mobile phone penetration, expanding agent networks, and improved consumer trust in mobile money platforms.
The Bank of Ghana’s May 2025 Summary of Economic and Financial Data highlights strong monthly performance across several indicators. Active mobile money accounts rose to 24.2 million, with registered accounts reaching 75.2 million.
The value of mobile money interoperability transactions also jumped significantly to GHC4 billion in April, up from GHC3.2 billion in March.
Impact of E-Levy removal
A key factor behind this surge is the removal of the Electronic Transfer Levy (E-Levy) in March 2025, which eliminated a major disincentive to higher-value transactions. The policy shift has significantly reduced transaction costs and revived consumer confidence in mobile financial services.
“The elimination of the E-Levy has removed a major barrier to usage, resulting in a notable increase in both the value and volume of mobile money transactions,” an industry expert noted.
Future outlook
Industry watchers expect the upward trend to continue, given Ghana’s ongoing digital transformation and supportive regulatory environment. Mobile money is playing a critical role in advancing financial inclusion, particularly in underserved and rural communities.
As Ghana’s mobile money ecosystem continues to expand, experts believe it could soon redefine the formal financial landscape, making digital transactions the preferred mode of payment across various sectors.
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