Total mobile money transaction values grew by 50.8% to GH¢4.54trn in 2025

In 2025, mobile money transaction values surged by 50.8% to reach GH¢4.54 trillion, according to the Bank of Ghana's 2025 Payment Systems Oversight Annual Report. This marked a significant growth from GH¢3.01 trillion in the previous year's review period. The report highlighted the critical role of e-money platforms in facilitating economic transactions, underscoring the increasing reliance on mobile money channels.

Following a substantial agent network clean-up in 2024, the number of active agents decreased but rebounded in 2025. Active agents surged by 21.4% to reach 491,057 in 2025, up from 404,370 in 2024. This growth was indicative of a post-clean-up consolidation phase, characterized by improved agent legitimacy and activity rather than rapid network expansion.

Despite the increased number of agents, mobile money transaction values remained concentrated in a limited number of high-value transaction types. Agent-to-Agent (A2A) transactions dominated, accounting for 41.0% of total transaction values, a slight increase from 37% in 2024. Third-party transfers saw a marginal increase to 14.9% in 2025, from 14.4% in 2024, reflecting the growing adoption of fintech platforms for merchant and commercial payment flows.

Cash-based transactions, however, accounted for a smaller share of total transaction values, making up 16.1% in 2025, down from 20.1% in 2024. This reduction pointed to a gradual transition towards account-based and digital transaction flows, with other transaction types like wallet-to-bank, bank-to-wallet, person-to-person, and business-to-business maintaining relatively stable shares.