Mobile money transactions rise sharply as E-Levy removal boosts growth

Gloria Amoah 6 months ago

Mobile money use in Ghana continues to grow fast, with the Bank of Ghana reporting that the total value of transactions hit GH₵365 billion by April 2025. This marks a big jump from GH₵303 billion recorded during the same period in 2024.

In just one month from March to April 2025 mobile money transactions went up by 3.8%, rising from GH₵351.7 billion in March. This is the highest monthly value recorded so far this year and shows how much Ghanaians rely on mobile financial services.

The number of transactions also increased, reaching 778 million in April 2025, compared to 764 million in March and 630 million in April 2024. This shows that more people are using mobile money for everyday payments, savings, and transfers.

The rise is partly thanks to better access to mobile phones, more mobile money agents across the country, and how easy these services are to use. The removal of the Electronic Transfer Levy (E-Levy) by Parliament in March is also believed to have encouraged people to make larger mobile money transactions without fear of extra charges.

The Bank of Ghana’s report also noted that active mobile money accounts grew to 24.2 million, while the total number of registered accounts reached 75.2 million by April. Transactions between different mobile networks (called interoperability transactions) also increased from GH₵3.2 billion in March to GH₵4.0 billion in April.

The Balance of Float which is the total amount of money held in mobile accounts at any given time rose to GH₵28.2 billion, up from GH₵19.3 billion the previous year.

Experts say this rapid growth shows that mobile money is now an essential part of Ghana’s financial system, especially in areas where banks are hard to reach. It helps people send and receive money easily, save securely, and take part in the economy even if they don’t have a traditional bank account.

With this continued growth, mobile money is expected to play an even bigger role in the way Ghanaians manage their finances in the future.