Let’s harness MoMo transaction to support inclusion
The announcement that mobile money transactions reached GH¢518 billion in 2025 is more than a headline statistic.
It is a clear signal of how deeply digital transactions have reshaped Ghana’s economy.
From market women and small traders to large businesses and public institutions, mobile money has become the preferred channel for everyday payments.
What began as a tool for simple transfers has evolved into a nationwide financial infrastructure supporting commerce, savings, credit, and government revenue mobilisation.
This growth reflects convenience and trust.
Mobile Money allows households to manage finances without visiting a bank branch, reducing time and transport costs.
For businesses, it improves cash flow management, record keeping, and payment efficiency.
For the state, digital transactions help widen the tax net and improve transparency.
In a country where a large share of economic activity takes place in the informal sector, mobile money has become a bridge between informality and formal financial systems.
Yet the scale of transactions also raises important questions about sustainability and resilience.
A system handling more than GH¢500 billion annually must be secure, reliable, and well regulated. Fraud, system downtimes, and data breaches can quickly erode public confidence.
Recent cases of mobile money fraud highlight the risks of rapid growth without equally strong consumer protection and enforcement mechanisms. Trust, once lost, is difficult to rebuild in digital finance.
There is also the issue of cost. Transaction fees, while small individually, add up for frequent users, particularly low-income households and micro businesses.
If digital payments are to drive inclusion rather than exclusion, pricing structures must remain fair and transparent. Operators and regulators must ensure that the push toward a cash-lite economy does not become a burden on the very people it is meant to empower.
Beyond payments, the next phase of Ghana’s digital transaction story must focus on productivity.
Mobile money data can support credit scoring for small businesses, enabling banks and fintech firms to lend with greater confidence. Integration with agriculture value chains, transport systems, and public services can improve efficiency and reduce leakages.
Digital payments should not only move money faster, but also support value creation across sectors.
Regulation will be key. The Bank of Ghana has made progress in supervising digital finance, but the pace of innovation demands continuous adaptation.
Clear rules on data protection, interoperability, fraud management, and dispute resolution will help sustain growth while protecting users.
GH¢518 billion in mobile money transactions shows that digital finance is no longer peripheral to Ghana’s economy. It is central.
The challenge now is to deepen its impact while managing its risks. If properly harnessed, digital transactions can support inclusion, efficiency, and growth.
If neglected, they could become a source of vulnerability in an increasingly digital economy.