There are less visits to Automated Teller Machines (ATMs) as Ghana’s financial landscape is rapidly shifting towards digital finance, with mobile money becoming the dominant platform, according to the 2024 West Africa Banking Industry Customer Experience Survey.
The survey revealed that 73% of Ghanaians now use mobile money weekly, up 7 percentage points from the previous year. The most common activities include airtime purchases (54%), money transfers (32%), and bill payments (28%). Mobile money interoperability saw a 23% rise as of October 2024, further driving the adoption of digital platforms.
USSD banking has also gained traction, with 33% of customers using it weekly, up from 28% in 2023. Despite this growth, concerns about service reliability persist.
Conversely, ATM usage has declined from 59% in 2023 to 48% in 2024. However, users are generally satisfied with cash availability and service uptime. While Gen X and Baby Boomers continue to rely on ATMs, younger generations increasingly prefer digital banking channels.
In 2024, mobile financial transactions in Ghana surged by 51.76%, reaching GH¢3.02 trillion ($196.7 billion), highlighting the country’s shift towards a cashless economy. Registered mobile money accounts also grew from 65.6 million in December 2023 to 73 million by the end of 2024, showcasing the widespread adoption of mobile financial services.
These trends underscore the rapid evolution of Ghana’s financial sector, with digital platforms playing a central role in daily transactions.
