MoMo transactions climb to GHS 179bn in value at end-October 2023
Value of mobile money transactions (MoMo) reached GHS 179bn at end-October 2023.
This is per the November 2023 Summary of Economic and Financial Data released by the Bank of Ghana.
This was from the previous value of GHS 157bn in September 2023.
Hence, on a month-to-month basis, the value of MoMo transactions grew by GHS 22bn.
On a year-on-year basis, the value of MoMo transactions grew by GHS 79bn when comparing the end-October 2022 value of GHS 100.2bn to the end-October 2024 value of GHS 179.2bn.
Total number of MoMo transactions at end-October 2023 stood at 615 million, an increase 35 million from the previous year’s total transaction number of 480 million.
Registered mobile money accounts as well as active mobile money accounts stood at 64 million and 22.1 million respectively at end-October 2023.
With regards to mobile money interoperability, the total value and number of transactions at end-October 2023 amounted to GHS 2.7bn and 15.7 million respectively.
Within the ten-month period of 2023, the transactional value and number of cheques cleared at the bank stood at GHS 25.8bn and 473,000 respectively.
