Mobile Money transactions hit GH¢354billion in August despite slight dip

Mobile money remains at the heart of Ghana’s financial system, with transactions hitting GH¢354.1 billion in August 2025, according to the Bank of Ghana’s latest Summary of Economic and Financial Data.

The figure represents a marginal dip from July’s GH¢355.4 billion, but the overall numbers underscore the resilience and dominance of mobile money in the country’s payment ecosystem.

The data showed that transaction volumes surged to 831 million in August, compared to 778 million in July, pointing to growing reliance on digital payment platforms for personal, commercial, and remittance purposes. Registered mobile money accounts climbed to 77.7 million, while active accounts rose to 25.1 million — a sign of deepening financial inclusion nationwide.

Analysts note that while the total value of transactions eased slightly, the consistent growth in transaction volumes and active users highlights the public’s strong trust in mobile money. Beyond convenience, the platform has become a vital channel for small businesses, household payments, and remittances, particularly in areas underserved by traditional banking.

The Bank of Ghana’s report also revealed gains in interoperability — cross-network transfers — which reached GH¢4.9 billion in August, facilitated by 26.4 million transactions. This reflects the increasing ease with which customers can move funds across different networks.

Despite ongoing currency volatility and fiscal challenges, industry watchers believe the continued momentum of mobile money cements its role as the backbone of Ghana’s financial sector and a driver of the broader digital economy.