Mobile money (MoMo) transactions have significantly increased, according to the BoG.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Data from the Bank of Ghana (BoG) indicates a marked rise in mobile money (MoMo) transactions, signaling the deepening adoption of digital financial services nationwide.

Mobile money transactions rose from 705 million in September 2024 to 728 million in October 2024, representing a monthly surge of 3.3%.

Correspondingly, the total value of transactions climbed from GH¢284.9 billion to GH¢298.6 billion, underscoring increased consumer and business reliance on MoMo platforms.

However, the mobile money float — the total funds held in MoMo accounts — dipped during the period, declining from GH¢25.1 billion to GH¢24.2 billion.

This could reflect shifts in user behavior, such as higher transaction volumes or withdrawals.

Source: newsthemegh.com