This is according to the latest Economic and Financial Data released by the Bank of Ghana after last week’s Monetary Policy Committee meeting.

The figure represents the total reported by telecom operators to the Bank of Ghana covering transactions from January to October 2025.

The report also highlights strong month-on-month growth this year, with September’s transactions recorded at GH¢406 billion, rising to GH¢436 billion in October.

Year-on-Year Performance

In the first 10 months of 2024, the total value of mobile money transactions hit GH¢2.368 trillion.

The 2025 figure, therefore, marks a significant jump over last year’s performance.

For context, total transactions for the same period in 2023 stood at GH¢1.367 trillion.

In the first eight months of 2024 alone, mobile money transactions amounted to GH¢1.775 trillion.

Reasons

Industry players have linked the growth to more people turning to mobile money for payments.

The Bank of Ghana and commercial banks have also intensified efforts to promote a cashless economy.

Additionally, more institutions now accept mobile money as a mode of payment.

According to analysts, these developments have contributed to the surge in total transaction value.

Mobile Money Performance

Data from the Bank of Ghana shows that as of October 2025, total registered mobile money accounts stood at 79.1 million, with 25.3 million active.

The sector employs about 949,000 registered agents.

Total transactions from January to October 2025 reached 893 million.

Regarding mobile money interoperability, GH¢40 billion was transferred across platforms within the same period.

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During the same period in 2023, the total mobile money transactions stood at GH¢859.5 billion.

This significant growth in mobile money transactions is mind astonishing despite the presence of the Electronic Transactions Levy.

According to the July 2024 Summary of Economic and Financial Data by the Bank of Ghana, the value of mobile money transactions in January 2024 stood at GH¢198.4 billion, but dropped to GH¢195.8 in February 2024.

It again fell slightly to GH¢181.9 billion in March 2024 but shot up to GH¢203.0 billion in April 2024. It went up again to GH¢234.3 billion in May 2024 but fell slightly to GH¢224.0 billion in June 2024.