According to data from the Bank of Ghana, there were 264.1 billion mobile money transactions in January and February 2023, an increase of about 72.6% from the same period last year.
In comparison to the first two months of 2022, when the MoMo transaction was 153 billion, the most recent figures represent a significant increase.
According to the report, mobile money transactions totaled 130.1 billion in January 2023 as opposed to 76.2 billion in the same month of 2022.
It was 134.0 billion in February 2023 as opposed to 76.5 billion in 2022.
The data shows that the largest transactions, totaling 122 billion and 117 billion respectively, took place in December 2022 and November 2022.
It is clear from the aforementioned data that Mobile Money transactions have increased significantly since the introduction of E-levy in May 2022.
Mobile money usage has increased significantly in Ghana, which indicates that it is becoming a more significant part of the financial landscape of the nation.
More Ghanaians are likely to use Mobile Money for their financial transactions in the upcoming years due to its accessibility and convenience, which will likely fuel its growth.
Ghana’s economy is benefiting from the rise in mobile money transactions, especially in light of the COVID-19 pandemic’s challenges.
It is anticipated that as the nation continues to adopt technological advancements, mobile money use will increase, providing even more convenience and financial inclusion to more Ghanaians.
