Value of Mobile Money reaches GHc233 billion-BoG report

A report by the Bank of Ghana has shown that the value of transactions carried out on mobile money platforms for 2018 reached GH¢233 billion.

The statistics covering electronic payments from 2018 showed the value of transactions increased from GH¢155 billion to 233 billion representing 43% growth in just a year.

The volume of transactions on the Mobile Money platform increased from 2017 to 2018 reached GH¢1.4 billion.

The report also said the transactions increased significantly from 2012 to 2018.

For instance, in 2012 total transactions, reached GH¢594 million and increased significantly every year to hit GH¢233 billion in 2018.

The total value of mobile money accounts held with commercial banks ending December 2018 reached GH¢2.6 billion, up by 13.48% in 2017. It stood at GH¢2.3 billion in 2017 from GH¢1.2 billion in 2016.

Mobile Money Agents/ Mobile Money Accounts

The data from the Bank of Ghana revealed that the total number of mobile money agents ending December stood at 393,000 up by 194, 000 from 2017 representing 103% increase. However, only 180,000 are said to active.

Mobile Money accounts at the end of December 2018 was 32 million. This represents a 17.43 % jump of the 23.9 million registered accounts in 2017.

The data, however, revealed that only 13 million accounts were said to be active as at December 2018.

The Bank of Ghana data also puts mobile voice subscriptions at GH¢40 million, ending September 2018.

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