Mobile Money and Online Banking Surge to Trillions
Electronic money transfers in Ghana reached GH¢3.01 trillion, up 57% from GH¢1.92 trillion in 2023. This clearly shows that mobile money is becoming a part of everyday life for more Ghanaians, as people increasingly use it to pay for goods, services, and everyday expenses. Most of the transfers were agent-to-agent (34.8%), followed by third-party transfers (15.4%), cash-outs (10.9%), cash-ins (9.9%), and bank-to-wallet transfers (7%). Transaction volumes rose to 8.1 billion, with an average value of GH¢372. In January–October transactions reaching GH¢3.6 trillion, up from GH¢2.368 trillion in the same period in 2024. Internet banking transactions more than doubled to GH¢212 billion, and mobile banking also increased to GH¢165 billion as more people used the new digital services. Transfers from abroad and card services grew too, and some banks even started offering basic banking through WhatsApp, showing how fast digital banking is growing in Ghana.
