Ghana’s mobile money ecosystem is one of the most vibrant activities within the economy to-date. Since its inception, mobile money has been the most preferred mode of payment for goods and services and remittance in the country due to the convenience of moving cash around within the jurisdiction; leaves a paper trail of expenditure within a period. That said, though, the total value of mobile money transactions as at August 2025 dipped from GH¢355.4 billion in July to GH¢354.1 billion, despite seeing a surge in total number of transactions by 831 million in August this year and notwithstanding the remarkable growth in value which has leapfrogged from GH¢273.6 billion in the same month last year. Again, with total active mobile accounts reaching 25.1 million in August from 22.8 million in the same period last year, cross-platform payments shot up to GH¢4.9 billion in value signaling a shift in mindset on the reliability of mobile money for payments in Ghana.

Mobile Money therefore comes ahead of other digital payment platforms in the country surpassing E-zwich, Gh-link, Ghipps Instant Pay, POS, and debit cards. According to the Bank of Ghana, enrollment on E-zwich grew by 4.3 million in August 2025 ahead of 4.2 million in the same month last year with total transactions valued at GH¢4.4 billion from GH¢3.9 billion. Gh-link on the other hand realised GH¢63.7 million this year marking a significant drop from GH¢71.3 million in August 2024, while Ghipps Instant Pay recorded an increase of use from 14,352 to 17,550 totalling GH¢58,880.6 million.

However, with the repealed ‘e-levy’ early this year, money money use is expected pick up amidst the challenges with fraud and double fees charged by the mobile network operators which some consumers find as a disincentive to activate their mobile money numbers.