Mobile Money's festive surge smashes records, leaving cheques and traditional banking behind
The value of transactions processed through Ghana's mobile money platforms surged to GH¢518.4 billion in December 2025, cementing the technology's position as the undisputed backbone of the nation's retail economy, according to newly released central bank data.
The record figure, captured in the Bank of Ghana's Summary of Economic and Financial Data, represents the highest monthly throughput for the year and underscores a decisive and accelerating shift away from traditional payment methods.
The December boom, a significant increase from the GH¢420.1 billion recorded in November, was propelled by festive season spending and the deepening integration of digital wallets into daily commerce.
The sheer volume of activity reached 982 million individual transactions in the month, up from 892 million in November, highlighting both the frequency and scale of its use.
Underpinning this growth is a rapidly expanding user base. The data shows the number of active mobile money accounts rose to 26.7 million in December, while total registered accounts surpassed the 80.5 million mark. Concurrently, the agent network—a critical infrastructure for cash-in, cash-out services—grew to include 491,000 active agents by year's end.
Perhaps most indicative of public confidence is the swelling value stored within the system itself. The balance held on mobile money floats reached GH¢39.6 billion in December, the highest level recorded in 2025, suggesting Ghanaians are increasingly comfortable using their mobile wallets not just for transactions but as a secure store of value.
The data paints a stark picture of the changing financial landscape. While mobile money soared, the value of cheques cleared in December stood at GH¢37.3 billion—a fraction of the digital platform's activity. Even modern, high-speed electronic systems like GhIPSS Instant Pay, which processed GH¢73.3 billion in the same month, operated at a scale dwarfed by the pervasive mobile money network.
The growth in interoperability, which allows transfers across different telecom networks and banks, also strengthened, with transaction values rising to GH¢5.8 billion in December. This seamlessness is viewed as a key enabler for the ecosystem's continued expansion.