Active mobile money accounts in Ghana hit 14.7m

Active mobile money accounts in Ghana is estimated at 14.7 million as of February 2020.

World Bank says Ghana is the fastest growing mobile money market in Africa

According to the Summary of Financial and Economic Data, this is an increase of 4% over that of the January 2020 figure.

In February 2020, the total number of transactions was estimated at GHC193 million whilst the total value of transactions was GHC30.1 billion.

Registered mobile money agents were also estimated at 324,000 at the end of February.

Meanwhile, GHC14.0 billion cheques were cleared in February. This is lower than the January 2020 cheques of GHC15.5 billion which was cleared.

This implies that more people are conducting financial transactions electronically.

The data also showed that registered mobile money accounts as at the end of February 2020 were 32.7 million.

This was 0.30% growth over the January 2020 estimate of 32.6 million consumers.

It was estimated that 965, 000 e-zwich transactions took place in February 2020, representing a total value of GHC772.3 million.

This is against 957,000 transactions, representing a total value of GHS589.4 million in January 2020.

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