File photo of a customer at the mobile money vendor
• Total value of MoMo transactions increased by 150% between April 2020 and April 2021
• The surge showed a jump from GH¢32.8 billion in April 2020 to GH¢83.8 billion in April 2021
• Transactions from March to April 2021 only witnessed a minimal increase of about two percent
The total value of mobile money transactions in Ghana increased by more than 150 percent between April 2020 and April 2021, according to the Bank of Ghana’s May 2021 Summary of Economic and Financial data.
Figures showed a consistent surge in transactions which jumped from GH¢32.8 billion in April 2020 to GH¢83.8 billion in April 2021.
Despite this, the value of transactions from March to April 2021 only witnessed a minimal increase of about two percent with also a few periods of reduction over the past 12 months.
In April 2020, the total number of mobile money transactions increased by 77 percent from 182 million in April last year to 323 million in the same period for 2021.
But on a monthly basis, the total volume of transactions witnessed a three percent decrease from 336 million in March to 323 million in April this year.
Read the full document below:
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- Invest in security systems, tools to avert fake currency circulation – E-Crime Bureau
- Total value of MoMo transactions in 2020 was GH¢569 billion - Dr. Bawumia
- Danger: MoMo agents not adhering to coronavirus safety protocols
- The principle of taxing Mobile Money transactions and its unintended consequences
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