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
-
Jamaica in talks to accept third-country migrants deported from US
1 hour -
G7 leaders call for strong, coordinated response to Ebola outbreak
1 hour -
Ebola Bundibugyo vaccine candidates could enter Phase 1 trials as early as July
1 hour -
Mobile tech to add $290bn to Africa’s economy by 2030, GSMA says
4 hours -
South Africa’s Ramaphosa warns against scapegoating migrants for economic woes
4 hours -
Oil prices fall 5% to 3-month low on hopes Strait of Hormuz will open
4 hours -
Prince George to attend Eton College from September
4 hours -
Cadbury chocolate-owner Mondelez defends staying in Russia
5 hours -
‘We fear for our lives’ – deadline for migrants to leave South Africa looms
5 hours -
Hungary’s MPs block return of Orbán, limiting rule of PM to eight years
5 hours -
Hundreds of cats stolen for food in Vietnam rescued by police, welfare group says
5 hours -
Brazil convicts Jair Bolsonaro’s son of pursuing US help in father’s legal battle
5 hours -
Musk’s SpaceX overtakes Amazon to become world’s fifth most valuable firm
5 hours -
2026 World Cup: What would Ghana lose without Thomas Partey against Panama?
6 hours -
German broadcaster removes TV intro after Elon Musk takes legal action
6 hours