Mobile Money transactions value decline by 3% - BoG

The report which was released on Friday, May 20, 2022, also indicated that the number of registered MoMo accounts increased in the period, from 49.9 million in March to 50.2 million in April. 18.6 million are active accounts.

The data further showed that the total number of Mobile Money transactions had also decreased by 2.4% from 413 million in March to 403 million in April.

The BoG report indicated also that there were 611,000 registered agents with about 454,000 active agents in the country as at April end.

Data on Mobile Money interoperability, which is the platform that allows transfer of funds from one mobile money wallet to another across different networks, also showed that transaction values had increased from GH¢2.8 billion in March to GH¢3.3 billion in April.

It also noted that the total number of transactions had increased from 12.8 million in March to 14.2 million in April.

On a year-on-year basis, the total number of mobile money transactions has increased to about 20 per cent from 323 million in April 2021 to 403 million in April 2022 whereas the total value of transactions has relatively increased by 4.4 per cent from GH¢83.8 billion in 2021 to GH¢87.7 billion in April 2022.

Registered mobile money accounts increased by 7.5 per cent as there were 42.1 million accounts in April of 2021 compared to 50.2 million in April this year while active mobile money accounts have increased by 7.5 per cent from 17.2 million in April 2021 to 18.6 million in April 2022.