Mobile money transactions reach GH¢518b in 2025
Mobile money transactions in Ghana rose to GH¢518.4 billion in December 2025 as consumers increased spending during the festive season and relied more on digital payments, data released by the Bank of Ghana showed.
The central bank said the surge reflected both seasonal demand and the steady shift by households and businesses towards mobile-based financial services as a preferred payment option.
According to the Bank of Ghana’s Summary of Economic and Financial Data, the December figure marked the highest monthly transaction value recorded in 2025, underlining the role of mobile money in day-to-day commerce across the country.
Transaction volumes climbed to 982 million in December, up from 892 million in November, pointing to increased activity by users over the holiday period.
The rise in volumes was supported by growth in the number of active mobile money accounts, which increased to 26.7 million in December from 25.5 million a month earlier.
Registered accounts also rose to 80.5 million.
The Governor of the Bank of Ghana, Dr Johnson Asiama, said the figures showed how digital payments had become embedded in Ghana’s retail economy, particularly during periods of high consumer spending.
“The data showed that mobile money had become the first option for many transactions, especially during the festive season,” he said.
The expansion of the mobile money agent network continued to support usage, with 491,000 active agents recorded at the end of December.
He said the growing reach of agents had improved access to cash-in and cash-out services, especially in peri-urban and rural areas, helping to drive financial inclusion.
Balances held in mobile money wallets reached GH¢39.6 billion in December, the highest level for the year, suggesting stronger confidence in mobile wallets as a place to hold funds.
“People were keeping more value in their wallets, which showed trust in the system,” the official said.
Interoperability gains
Interoperable mobile money transactions also strengthened during the month, with transaction values rising to GH¢5.8 billion from GH¢4.9 billion in November.
The Bank of Ghana said the increase was largely driven by cross-network transfers during the holidays, as users sent money to family and friends on different networks.
A payments industry analyst said interoperability had reduced friction in the system, “Customers no longer worried about which network they were on, and that encouraged more transfers,” he said.
Despite the growth in digital channels, traditional payment instruments accounted for a smaller share of transactions in December.
Cheque payments totalled GH¢37.3 billion during the month, while electronic platforms such as GhIPSS Instant Pay recorded GH¢73.3 billion in transaction value, both well below mobile money levels.
The Bank of Ghana said mobile money had firmly established itself as the backbone of Ghana’s retail payments system, with rising smartphone use and agent expansion expected to support further growth into 2026.
“The trend pointed to sustained dominance of mobile money in the payments space,” he said.