MoMo business has employed 386,000 people so far – Bank of Ghana

• Latest figures from the Bank of Ghana show that there are active mobile money agents in the country

• This was contained in the bank’s Summary of Economic and Financial Data for May 2021.

• The value of mobile money transactions jumped from GH¢32.8 billion in April last year to GH¢83.8 billion in April this year

Latest data released by the Bank of Ghana has revealed that mobile money operations have given a total of 386,000 jobs to people in the country.

This information was contained in the central bank’s Summary of Economic and Financial Data for May 2021.

According to the May 2021 data, active mobile money agents for the month of April 2021 saw an exponential growth to hit 386,000 as compared to the 254,000 same period last year.

As of January this year, the country had 351,000 active agents, with February and March recording 356,000 and 375,000 respectively.

The Bank of Ghana also revealed that the value of mobile money transactions has more than doubled in the last twelve months.

The total amount increased by over 150 percent from April 2020 to April 2021.

On a monthly basis, the value of transactions from March to April this year, saw a minimal increase of about two percent.

Apart from a few periods of reduction over the past 12 months, the value of mobile money transactions in Ghana has generally seen a consistent rise.

According to the Central Bank’s Summary of Macroeconomic and Financial Data report, the value of mobile money transactions jumped from GH¢32.8 billion in April last year to GH¢83.8 billion in April this year.

The total number of transactions also shot up by 77 percent, from GH¢182 million in April last year to GH¢323 million in the same month this year.