Audio By Carbonatix
The total value of mobile money transactions hit GH¢1.775 trillion in eight months of 2024, data from the Bank of Ghana has revealed.
This is compared with GH¢1.031 trillion the same time in 2023.
This significant growth in mobile money transactions is astonishing and provides an opportunity for the country to deepen financial inclusion.
However, it is also shocking why the nation is not roping in much from the Electronic Transaction Levy.
According to the September 2024 Summary of Economic and Financial Data by the Bank of Ghana, the value of mobile money transactions in January 2024 stood at GH¢198.4 billion, but dropped to GH¢195.8 in February 2024.
It again fell slightly to GH¢181.9 billion in March 2024 but shot up to GH¢203.0 billion in April 2024. It went up again to GH¢234.3 billion in May 2024 but fell slightly to GH¢224.0 billion in June 2024.
It however surged consistently to GH¢264.9 billion in July 2024 and GH¢273.6 billion in August 2024.
| MONTH | 2023 | 2024 |
| January | 130.1bn | 198.4bn |
| February | 134.0bn | 195.8bn |
| March | 147.5bn | 181.9bn |
| April | 138.8bn | 203.0 bn |
| May | 159.7bn | 243.4bn |
| June | 149.4bn | 224.0bn |
| July | 169.6bn | 264.9bn |
| August | 161.8bn | 273.6bn |
Latest Stories
-
Galamsey: Water bodies and lands remain under attack – Abu Jinapor
2 minutes -
‘Order from above’: Trotro operators reply as commuters fume over fare hikes amid gridlock
7 minutes -
US Visa Suspension: Abu Jinapor warns of diplomatic drift as Ghana–US relations face strain
1 hour -
NPP flagbearer race: Bawumia stands tall—Jinapor
1 hour -
Akufo-Addo neutral in NPP flagbearer contest—Abu Jinapor
2 hours -
NPA commends Tema Oil Refinery for swift return to full operation
2 hours -
No 24-hour shift in 2020 – Ghana Publishing clarifies former MD’s claim
2 hours -
Ghana U20 midfielder Hayford Adu-Boahen seals five-year deal with FC Ashdod
2 hours -
Fuel prices set to go down marginally at pumps from January 16
2 hours -
Measured diplomacy, not hot-headed statements, should guide Ghana’s foreign policy – Abu Jinapor
2 hours -
Galamsey fight unsatisfactory – Abu Jinapor slams government
2 hours -
We need to move away from religion and tribal politics – Abu Jinapor
2 hours -
Iran judiciary denies plan to execute detained protester Erfan Soltani
2 hours -
Swiss bar employee who reportedly held sparkler unaware of dangers, family says
2 hours -
European military personnel arrive in Greenland as Trump says US needs island
2 hours