The total value of mobile money transactions in Ghana reached a record level in 2023, according to the 2023 Summary of Economic and Financial Data by the Bank of Ghana (BoG).
The total mobile money transactions for the year amounted to GH¢1.912 trillion, compared to GH¢1.07 trillion in 2022. In the first 10 months of 2023 alone, the total had reached a record GH¢1.527 trillion.
The data showed consistent growth throughout the year, with December 2023 recording the highest mobile money transaction value of GH¢199.3 billion.
Each of the 12 months in 2023 saw transaction values exceeding GH¢100 billion.
In January 2023, the value of mobile money transactions stood at GH¢130.1 billion, compared with GH¢76.2 billion during the same period in 2022.
It surged to GH¢134.0 billion in February 2023 (February 2022: GH¢76.5 billion) and subsequently to GH¢147.5 billion in March 2023 (March 2022: GH¢90.5 billion).
It however, fell to GH¢138.8 billion in April 2023 (GH¢87.7 billion), but shot up to GH¢159.7 billion in May 2023 (May 2022: GH¢71.4 billion) before declining slightly to GH¢149.4 billion in June 2023 (June 2022: GH¢77.1 billion).
But it achieved a then-record transaction of GH¢169.6 billion in July 2023, before declining to GH¢161.8 billion in August 2023. It again fell to GH¢157.0 billion in September 2023 (GH¢88.2 billion: September 2022) before hitting an all-time record of GH¢179.2 billion in October 2023.
It then surged to GH¢185.9 billion in November 2023 and to GH¢199.3 billion in December.