Ghana’s mobile money industry has reached a new milestone. According to the Bank of Ghana, mobile money transactions hit a record GH₵365 billion in April 2025, the highest monthly figure ever recorded. This marks a 3.8% increase from GH₵351.7 billion in March, reflecting the growing importance of mobile financial services in everyday life.
The surge in transactions is being attributed to several key factors: The repeal of the Electronic Transfer Levy (E-Levy) by Parliament in March, which has removed a major barrier to high-value transfers, increased digital literacy and awareness of mobile financial tools, a rapidly growing agent network, especially in rural areas and rising consumer trust and convenience in using mobile money platforms.
It’s not just the value of transactions that’s rising, the number of transactions is too. Mobile money transactions climbed from 764 million in March to 778 million in April, as Ghanaians increasingly choose mobile platforms for both personal and business payments. The Bank of Ghana’s May 2025 Summary of Economic and Financial Data revealed more strong numbers: Active mobile money accounts grew to 24.2 million, registered accounts reached 75.2 million and interoperability transactions increased to GH₵4.0 billion, up from GH₵3.2 billion in March.
Experts say this growth is helping bridge the gap between the formal and informal financial sectors. Mobile money is now playing a crucial role in promoting financial inclusion, especially in underserved and rural communities where access to traditional banking services is limited. The elimination of the E-Levy is seen as a major turning point, removing what many saw as a disincentive for users to engage with digital finance platforms.
As mobile money continues to grow, it’s reshaping Ghana’s financial landscape. Analysts believe the trend will redefine the future of banking, boost economic participation, and support cashless transactions on a national scale.