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Business44m mobile money accounts registered as of 2023 - Akufo-Addo

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44m mobile money accounts registered as of 2023 – Akufo-Addo

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The mobile money market in Ghana is rapidly expanding, with a significant surge in the adoption of electronic wallet services. President Akufo-Addo revealed that by the close of 2023, a staggering 44 million accounts had been registered.

This announcement, shared via a post on X on Tuesday, May 14, 2024, also highlighted that mobile money transactions had exceeded GH¢1 trillion.

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President Akufo-Addo further noted a substantial increase in the percentage of adults with access to financial services, rising from 58% in 2017 to 80% in 2023.

He hailed mobile money as the most revolutionary addition to Ghana’s financial landscape, transforming countless lives and creating new avenues of opportunity.

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“Mobile money adoption has increased considerably, with some 44 million accounts registered by the end of 2023, and transactions surpassing GH¢1 trillion. Meanwhile, the percentage of adults with access to financial services has risen from 58% in 2017 to some 80% in 2023, representing a remarkable achievement that has transformed countless lives and opened up new horizons of opportunity,” President Akufo-Addo stated.

Ghana’s remarkable achievement extends to boasting one of the world’s highest mobile money penetration rates. President Akufo-Addo emphasized that mobile money transactions annually surpass GH¢900 billion, underscoring the market’s robust growth and significant impact on the nation’s economy.

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