In the first eight months of 2023, Ghana has achieved a remarkable milestone, with total mobile money (MoMo) transactions soaring to an astonishing GH¢1.190 trillion.
This is according to the 2023 Oxford Economics Africa’s Report.
This unprecedented surge underscores the robust and ever-expanding mobile money ecosystem within the nation.
As of August 2023, Ghana reported an impressive 21.6 million active mobile money accounts, with a vast network of 556,000 active agents facilitating transactions.
These figures underscore the accessibility and widespread utilization of mobile money services across the country.
In terms of mobile money accounts per 1,000 adults, Ghana has widespread penetration of mobile money services among the population.
Additionally, the country boasts a substantial network of mobile money agents.
Meanwhile, according to the 2023 Oxford Economics Africa’s Report, Ghana has secured an impressive second place in the region, trailing only behind Côte d’Ivoire, in terms of the growth of mobile money services.
The report reveals that the value of MoMo transactions in Ghana, Côte d’Ivoire, and Senegal has soared to levels well above 100% of Gross Domestic Product (GDP).
This staggering achievement underscores the undeniable significance of mobile money as a financial tool in the West African nations.
