44 million accounts registered on mobile money - Akufo-Addo

The mobile money market in Ghana is becoming a fast-growing one as the adoption of electronic wallet service has increased considerably, with some 44 million accounts registered by the end of 2023.

This was disclosed by President Nana Addo Dankwa Akufo-Addo in a post on X on Tuesday, May 14, 2024, and sighted by GhanaWeb Business.

He said mobile money, which has become the most revolutionary product to have been introduced to the Ghanaian financial ecosystem, has recorded transactions of over GH¢1 trillion.

President Akufo-Addo added that the percentage of adults with access to financial services has also risen from 58% in 2017 to 80% in 2023.

"Mobile money adoption has increased considerably, with some 44 million accounts registered by the end of 2023, and transactions surpassing GH¢1 trillion. Meanwhile, the percentage of adults with access to financial services has risen from 58% in 2017 to some 80% in 2023, representing a remarkable achievement that has transformed countless lives and opened up new horizons of opportunity," President Akufo-Addo stated.

He said Ghana can boast of being one of the countries with the highest mobile money penetration rates in the world.

President Akufo-Addo pointed out that mobile money transactions exceed GH¢900 billion annually.

Read President Akufo-Addo's tweet below;

Mobile money adoption has increased considerably with some 44 million accounts registered by the end of 2023, and transactions surpassing GH¢ 1 trillion whilst the percentage of adults with access to financial services has risen from 58% in 2017 to some 80% in 2023, representing…

— Nana Akufo-Addo (@NAkufoAddo) May 14, 2024