Despite the rapid growth in Ghana’s mobile money ecosystem, the use of interoperability features remains limited, accounting for just one percent of the total value of mobile money transactions in the first half of 2025, according to the Bank of Ghana’s latest economic report.
Between January and June, monthly interoperability transaction values ranged from GH¢2.9 billion to GH¢4.5 billion, falling to GH¢3.9 billion in June.
In contrast, total mobile money transactions over the same period remained significantly higher, ranging between GH¢316.2 billion and GH¢365 billion monthly, with June closing at GH¢323.2 billion.
On average, interoperability made up only 1.1 percent of monthly transaction value, suggesting that most mobile money usage continues to occur within the same service providers.
Introduced in 2018 to allow seamless movement of funds across different mobile platforms, interoperability was expected to unify Ghana’s digital payment systems and enhance convenience for users.
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Although the value of such transactions remains low, usage by volume has seen a steady rise. Monthly transaction counts increased from 19.4 million in January to 24 million in May, dipping slightly to 23.3 million in June, an encouraging sign of growing user familiarity.
The broader mobile money sector, however, continues to show strong performance across key indicators. Registered accounts increased from 73.5 million in January to 76.4 million in June, while active users grew from 23.6 million to 24.5 million during the same period.
Transaction volumes remained consistently high, reaching a peak of 796 million in May and closing June at 735 million. This highlights mobile money’s central role in everyday payments, especially for small-scale traders and consumers.
Registered agents also grew in number, rising from 886,000 in January to 923,000 by June. However, the number of active agents increased only marginally, from 405,000 to 424,000 between January and May, before dropping slightly to 423,000 in June.
Compared to June 2024, when 551,000 agents were active, this marks a 23.23% decline, raising concerns about operational challenges or reduced profitability in the agent network.
Meanwhile, the float balance the total value of money held in mobile wallets rose from GH¢26.3 billion in January to GH¢28.9 billion in June, representing a 10% increase.
Nonetheless, boosting usage of interoperability features will require targeted user education, incentives for transactions, and improved user experience. Aligning fees and convenience levels with regular mobile transactions could also encourage wider adoption in the months ahead.
