Mobile Money Transaction Values Surge 50.8% to GH¢4.54 Trillion in 2025 – Bank of Ghana

The total value of mobile money transactions in Ghana increased by 50.8% to GH¢4.54 trillion in 2025, up from GH¢3.01 trillion recorded in 2024, highlighting the growing role of digital payment platforms in the country’s economy.

The Bank of Ghana (BoG) disclosed this in its 2025 Payment Systems Oversight Annual Report, which showed continued expansion in mobile money activity despite efforts to clean up the agent network.

According to the report, the significant increase in transaction values underscores the growing importance of electronic money platforms in facilitating payments, transfers, liquidity management and other economic activities.

Mobile money agent network rebounds

The growth in transaction values came alongside a rebound in the number of active mobile money agents following a major agent network clean-up exercise undertaken in 2024.

The number of active mobile money agents increased by 21.4%, rising from 404,370 in 2024 to 491,057 in 2025.

The Bank of Ghana said the increase reflected a post-clean-up consolidation phase, characterised by improved agent legitimacy and activity rather than rapid expansion of the overall network.

The development suggests that the clean-up exercise helped strengthen the quality and reliability of the agent network, while legitimate and active agents returned to the system.

A2A transactions remain dominant

Despite the growth across the sector, mobile money transaction values remained concentrated in a few high-value transaction categories.

Agent-to-Agent (A2A) transactions continued to account for the largest share of total transaction values, increasing from 37% in 2024 to 41.0% in 2025.

The Bank of Ghana explained that A2A transactions continued to play a critical role in supporting liquidity redistribution and settlement within the mobile money agent network.

The dominance of A2A transactions highlights the important role mobile money agents play not only in serving individual customers but also in facilitating the movement and balancing of funds across the wider agent ecosystem.

Third-party transfers gain ground

Third-party transfers also recorded a marginal increase during the year.

Their share of total mobile money transaction values rose to 14.9% in 2025, compared with 14.4% in 2024.

According to the report, the increase reflects the growing use of fintech platforms for mediated merchant and commercial payment flows.

The trend points to the continued integration of mobile money services into business and institutional transactions, as more enterprises and service providers rely on digital platforms to facilitate payments and transfers.

Cash transactions decline

Meanwhile, cash-based transactions accounted for a smaller proportion of total mobile money transaction values in 2025.

Combined cash-in and cash-out transactions represented 16.1% of total transaction values in 2025, down significantly from 20.1% in 2024.

The Bank of Ghana said the decline points to a gradual shift away from cash-intensive activities towards account-based and digital transaction flows.

The development could signal a broader transformation in Ghana’s payments ecosystem, as consumers, businesses and institutions increasingly use electronic channels to conduct transactions without relying heavily on physical cash.

Digital payments continue to expand

Other mobile money transaction categories, including wallet-to-bank, bank-to-wallet, person-to-person (P2P) and business-to-business (B2B) transactions, maintained relatively stable shares during the period.

Collectively, these transaction types continued to support a wide range of retail, commercial and merchant payment activities.

The latest figures reinforce the increasingly central role of mobile money in Ghana’s financial ecosystem, particularly in facilitating transactions for individuals and businesses that may have limited access to traditional banking services.

The sharp rise in transaction values also reflects the continued deepening of digital financial services in Ghana, as mobile money platforms become increasingly embedded in everyday economic activity.

With transaction values reaching GH¢4.54 trillion in 2025, the sector remains a key component of Ghana’s evolving digital payments landscape.

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