The volume of transactions of inter-bank cheques cleared declined marginally by 0.2% in 2024.

This is compared to a 4.3% decline in 2023.

According to the Bank of Ghana’s Annual Report and Financial Statement, total value of transactions of cheques cleared increased to GH¢384.963 million in 2024, from GH¢293.925 million in 2023.

Meanwhile, the Ghana Automated Clearing House (GACH) direct credit service, which enables individuals and organisations to make bulk payments by electronic transfer of funds directly into bank accounts, recorded higher increases in transaction volumes and values in 2024.

Total volume of transactions cleared through the direct credit system increased by 4.0% to 9,876,887 in 2024 from 9,494,967 in 2023.

Total value of direct credit transfers also increased by 34.4% to GH¢119,291.75 million in 2024 from GH¢30,546 million in 2023.

Payment of salaries, pensions, and business-to-business payments remained the major contributors to the growth in direct credit transactions.

Direct Debit

The direct debit transactions, which represent pull transactions used for recurring payments, improved in both volumes and values in 2024.

Total volume of direct debit transactions increased by 9.2%t in 2024, compared to a 10.9% decline in 2023.

Total value of transactions for 2024 went up by 30.8% to GH¢3,181.90 million compared to GH¢2,432.53 million in 2023.

Similarly, the average value per transaction also increased to GH¢3,891.04 from GH¢3,248.46, representing 19.8% increase over the same comparative period.

e-zwich Transactions

Similarly, the number of e-zwich cardholders increased by 3.3% in 2024, compared to an increase of 0.6% in 2023.

The amount of value held on the cards increased by GH¢77.79 million in 2024, representing an annual growth of 24.8%.

On average, the amount of value held per card recorded a 16.6% growth in 2024.

Overall, the total volume of e-zwich transactions increased by 33.4% to 9,625,110 in 2024 from 7,218,198 in 2023.

Similarly, the total value of e-zwich transactions increased significantly by 89.4% to GH¢37,884 million compared to a 36.5% increase in 2023.