The January 2025 Summary of Financial and Economic Data from the Bank of Ghana compared to that of the previous year, indicates that between 2023 and 2024, the mobile money ecosystem declined marginally by about 6% (5.87%).
Per the report, the total value of mobile money transactions in 2024 crossed GHS3 trillion (GHS3.01 trillion), which is 56.8% higher than that the GHS1.92 trillion recorded in 2023.
But the actual float (cash flow) on the mobile money platforms in 2024 was GHS260.9 billion, again, 66.7% higher than that of 2023, which stood at GHS156.5 billion.
To determine how the ecosystem performed, there is the need to determine how many times every GHS1 moved around on all mobile money platforms in the cause of the year and compare it to that of the previous year. That number can be determined by dividing the value of transaction by the float for the respective year.
So, in 2024, every GHS1 moved around the mobile money platforms at least 1,154, while in 2023, every cedi moved around the digital platforms for 1,227 times. This means that the number of times every one cedis moved around digital platforms in 2024 is 73 times less than it did in 2023, which represents about 6% reduction.
Meanwhile, the report indicates that in 2024 the total number of mobile money transactions was 8.09 billion, which is 18.8% higher than that of 2023 – 6.81 billion.
Interoperability
On the mobile money interoperability platform, value of transaction stood at GHS30.4 billion in 2024, while the volume of transaction was 191.5 million.
