MoMo transactions hit ¢264.1bn first 2 months of 2023 - BoG report

The latest figures is a massive increase compared to the first two months of 2022, where the MoMo transaction was 153 billion.

The report showed that the Mobile Money transaction in January 2023 was estimated at ¢130.1 billion, compared with ¢76.2 billion during the same period in 2022.

In February 2023 it was ¢134.0 billion, compared to ¢76.5 billion in 2022.

According to the data, the biggest transactions occurred in December 2022 and November 2022, whereby ¢122 billion and ¢117 billion respectively were recorded.

From the above data, it is obvious that Mobile Money transactions have surged since the implementation of E-levy in May 2022.

This significant growth in the use of Mobile Money transactions in Ghana suggests that it is becoming an increasingly important aspect of the country’s financial landscape. The convenience and accessibility of Mobile Money are likely to continue driving its growth in the coming years, as more Ghanaians seek to use it for their financial transactions.

The growth in Mobile Money transactions in Ghana is a positive sign for the country’s economy, especially given the challenges posed by the COVID-19 pandemic.

As the country continues to embrace technological advancements, it is expected that the use of Mobile Money will continue to expand, offering even greater convenience and financial inclusion to more Ghanaians.