Ghana’s mobile money sector continues its rapid expansion, with transaction value soaring to GH¢493.2 billion in April 2026, according to new figures released by the Bank of Ghana.
Data contained in the central bank’s May 2026 Summary of Economic and Financial Data show that mobile money transaction value rose sharply from GH¢365.0 billion recorded in April 2025, representing a year-on-year growth of about 35.1 per cent. Transaction volumes also climbed significantly from 778 million to 967 million over the same period.
The figures further cement mobile money’s position as the dominant payment channel in Ghana’s economy, far ahead of traditional banking and other digital payment platforms.
Mobile money use continues to deepen across Ghana
The latest data suggest that mobile money is becoming more deeply embedded in the daily financial habits of millions of Ghanaians.
What started years ago primarily as a peer-to-peer transfer service has evolved into a broad financial ecosystem supporting merchant payments, utility bill settlements, market trading, transport payments, savings and small business transactions.
Registered mobile money accounts increased from 75.2 million in April 2025 to 83.0 million in April 2026. More importantly, active accounts rose from 24.2 million to 26.0 million, indicating that usage is not merely growing on paper but becoming increasingly consistent in real life.
The steady rise in transaction frequency also points to growing public confidence in digital financial services despite persistent concerns around fraud and cybersecurity.
Growth in active mobile money agents boosts financial access
The physical network supporting mobile money services also expanded considerably over the past year.
Registered mobile money agents increased from 911,000 to 992,000, while active agents jumped from 414,000 to 534,000.
The growth in active agents is especially important for rural and underserved communities where access to traditional banking infrastructure remains limited. For many people in smaller towns and communities, mobile money agents continue to serve as the closest point for financial services.
The expansion also reflects the increasing commercial importance of mobile money agency businesses across Ghana’s informal economy.
More Ghanaians now keep money in mobile wallets
One of the most striking trends in the latest figures is the increasing amount of money being held inside mobile wallets.
According to the Bank of Ghana data, float balances rose from GH¢28.2 billion in April 2025 to GH¢36.7 billion in April 2026.
The rise suggests that many users are no longer treating mobile wallets simply as temporary transfer channels. Instead, mobile money wallets are increasingly functioning as short-term savings tools and day-to-day financial management platforms.
This behavioural shift highlights how digital finance is gradually reshaping how many Ghanaians store, move and manage money.
Cross-network mobile money transfers also rise
Interoperability transactions — which allow users to send money across different mobile networks and financial platforms — also recorded strong growth.
The value of interoperability transactions increased from GH¢4.0 billion to GH¢5.8 billion, while transaction volume rose from 23.1 million to 31.7 million.
The increase reflects a more connected digital payments ecosystem where users can transact more freely regardless of network provider.
Industry analysts have long argued that interoperability is critical to accelerating Ghana’s transition towards a cash-lite economy because it removes friction and improves convenience for consumers and businesses alike.
Mobile money far ahead of cheques and internet banking
The scale of mobile money’s dominance becomes even clearer when compared with other payment systems.
Cheque transactions recorded a value of GH¢36.6 billion in April 2026, representing less than eight per cent of mobile money’s total transaction value during the same period.
GhIPSS Instant Pay processed GH¢79.0 billion, while internet banking transactions reached GH¢42.0 billion. Despite their growth, both channels remained significantly behind mobile money.
By both value and transaction volume, mobile money remains Ghana’s largest and most widely used payment platform by a considerable margin.
The latest numbers reinforce a reality that is becoming increasingly difficult to ignore: for millions of Ghanaians, mobile money is no longer an alternative to formal banking. It has effectively become their primary gateway into the country’s financial system.
