Ghana's mobile money ecosystem continues to soar, with the total value of transactions reaching a high of GH?365 billion in April 2025, according to the latest data from the Bank of Ghana.

The figure represents a 3.8 per cent increase from the GH?351.7 billion recorded in March, making it the highest monthly total so far this year. Analysts say the growth is being driven by both structural trends and recent policy shifts, notably the repeal of the Electronic Transfer Levy (E-Levy) by Parliament in March.

The number of mobile money transactions also climbed from 764 million in March to 778 million in April, underscoring the platform's increasing dominance in Ghana’s payment landscape. The surge reflects the growing adoption of mobile financial services for both personal and business use, alongside improved digital literacy and expanding agent networks.

The Payment Systems section of the Bank of Ghana’s May 2025 Summary of Economic and Financial Data highlights strong monthly performance across several indicators. 

Active mobile money accounts rose to 24.2 million in April, with registered accounts hitting 75.2 million. The value of mobile money interoperability transactions also jumped significantly to GH?4.0 billion in April, up from GH?3.2 billion in March.

Industry watchers attribute the continued growth to increased consumer trust, wider mobile penetration, and enhanced convenience compared to traditional banking systems. The elimination of the E-Levy is also seen as a catalyst, removing a major disincentive to higher-value transactions.

Experts say the mobile money boom is playing a critical role in advancing financial inclusion and could soon redefine the formal financial ecosystem, particularly in underserved and rural communities.