The value of mobile money transactions soared to an unprecedented GH¢394.2 billion in the first two months of 2024, marking a significant increase from GH¢264.1 billion in the corresponding period of 2023.
The Bank of Ghana’s March 2024 Summary of Economic and Financial Data highlights that January 2024 witnessed GH¢198.4 billion in mobile money transactions, with February 2024 recording an estimated GH¢195.8 billion.
This remarkable achievement comes despite the implementation of the Electronic Transaction Levy (E-Levy).
The number of transactions in January 2024 reached 618 million, slightly decreasing to 609 million in February 2024.
Active mobile money accounts were estimated at 22.9 million in January 2024, maintaining a strong presence in the digital finance landscape.
In 2023, the total value of mobile money transactions surged to an impressive GH¢1.912 trillion compared to GH¢1.07 trillion in 2022.
The data from the Bank of Ghana indicates a consistent upward trend in mobile money transactions from January 2023 to January 2024, followed by a slight dip in February 2024.
Each of the 14 months during this period recorded transactions exceeding GH¢100 billion, reflecting the widespread adoption and usage of mobile money services.
Source-myjoyonline
