Mobile money transaction value surges 50.8% to GH¢4.54 trillion in 2025 – BoG

In 2025, mobile money transactions in Ghana surged by 50.8% to reach a total value of GH¢4.54 trillion, according to the Bank of Ghana's 2025 Payment Systems Oversight Annual Report. This marked a significant increase from GH¢3.01 trillion in the previous year. The acceleration in transaction values highlighted the growing significance of e-money platforms in facilitating economic transactions.

Following a substantial clean-up of mobile money agents in 2024, the number of active agents dropped but rebounded in 2025. The active agent count rose by 21.4% to reach 491,057 in 2025, up from 404,370 in 2024. This improvement was attributed to a phase of consolidation following the clean-up, characterized by enhanced agent legitimacy and activity rather than a rapid expansion of the network.

However, the distribution of mobile money transaction values remained concentrated among a handful of high-value transaction types. Agent-to-Agent (A2A) transactions continued to dominate, accounting for 41.0% of total transaction values in 2025, up from 37% in 2024. Third-party transfers saw a marginal increase to 14.9% in 2025 from 14.4% in 2024, indicating the broader adoption of fintech platforms for facilitating merchant and commercial payments.

This trend underscores the integration of mobile money channels into various business and institutional transactions. Meanwhile, cash-based transactions shrank in significance, with cash in and cash out activities comprising only 16.1% of total transaction values in 2025, down from 20.1% in 2024. This decline suggests a gradual shift towards account-based and digital transaction flows.

Other transaction types, such as wallet-to-bank, bank-to-wallet, person-to-person, and business-to-business transactions, maintained relatively stable shares, collectively supporting both retail and merchant payment use cases.