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Mobile Money Transactions in Ghana Drop to GHC 316 Billion in February 2025—Bank of Ghana Report
The Bank of Ghana’s Summary of Economic and Financial Data for March 2025 has revealed a decline in mobile money transactions, with the value dropping to GHC 316 billion in February 2025 from GHC 333 billion in January 2025.
This marks a notable dip compared to the GHC 334.8 billion recorded in December 2024.
The report indicates a similar trend in the number of transactions, which decreased to 698 million in February 2025 from 726 million in January. December 2024 saw a peak of 745 million transactions.
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Despite this recent decline, a year-over-year comparison reflects significant growth in mobile money usage. The number of transactions rose from 609 million in February 2024 to 698 million in February 2025, underscoring the resilience of the mobile money sector.
The dip in February’s figures follows a steady rise in mobile money transactions throughout 2024, highlighting the platform’s importance in Ghana’s financial ecosystem.
Industry analysts are optimistic about a potential rebound in the coming months, spurred by the recent cancellation of the 1% electronic money levy on mobile money transactions. The removal of the levy is expected to encourage more digital payments, drive financial inclusion, and increase the volume and value of transactions.
Mobile money has become a cornerstone of financial inclusion in Ghana, providing essential services to millions of unbanked and underserved individuals. However, regulatory challenges and levies have occasionally impacted its growth.
The Bank of Ghana’s latest figures reflect short-term fluctuations but underline the sector’s long-term potential. The removal of the e-levy is anticipated to stimulate growth, drive economic activity, and deepen the digital financial ecosystem.
Market watchers will be keenly observing the sector’s performance in the coming months to gauge the impact of this tax policy change on mobile money adoption and usage.
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