Mobile Money transactions hit ¢233billion as agents increased to 393,000 in 2018

The value of transactions carried out on mobile money platforms for 2018 reached ¢233 billion. 

This was contained in the Bank of Ghana’s (BoG) latest statistics covering electronic payments from 2018.

Breakdown of Data

The data showed the value of transactions increased from ¢155 billion to ¢233 billion representing 43% growth in just a year. 

The Data secured from the Bank of Ghana also showed that the volume of transactions on the Mobile Money platform increased from 2017 to 2018 by ¢1.4 billion. 

The value of transactions had also seen a significant increase from 2012 to 2018.  For instance, in 2012 total transactions, reached ¢594 million and increased significantly every year to hit ¢233 billion in 2018.     

Mobile Money accounts held with Commercial Banks

The total value of mobile money accounts held with commercial banks ending December 2018 reached ¢2.6 billion, up by 13.48% in 2017.  It stood at ¢2.3 billion in 2017 from ¢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 per cent increase. However, only 180,000 are said to be active.

Mobile Money accounts at the end of December 2018 was 32 million. This represents a 17.43 per cent 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 ¢40 million, ending September 2018.