Business News Mon, 2 Sep 2019

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MoMo accounts hit 32.55m; transactions hit GH¢223.21 bn

The total number of registered mobile money accounts as of the end of December 2018 was 32.55 million.

It was 23.95 million as of end-December 2017.

The Bank of Ghana’s annual Payment Systems Oversight report said: “Out of the total registered mobile money accounts, the number of active accounts increased by 17.4 per cent to 13.06 million in 2018”.

“Also, the number of registered mobile money agents increased to 396,599 in 2018, from 194,688 in 2017.

“Total value of mobile money transactions increased to GH¢223.21 billion in 2018 from GH¢155.84 billion in 2017, while the total float balance grew by 13.5 per cent to GH¢2.63 billion”.

The report also noted that: “The number of registered internet banking customers declined by 12.9 per cent from 936,965 in 2017 to 815,904 in 2018”.

“Similarly, the value of Internet Banking transactions decreased to GH¢6.27 billion in 2018 from GH¢9.74 billion in 2017.

Over the period, however, the number of registered mobile banking customers increased to 3,891,269 in 2018 from 2,110,984 in 2017.

Source: Class FM

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