Mobile money (MoMo) transactions climbed sharply in 2025, with the value of transfers rising to a record 518.4 billion cedis in December, indicating the platform’s dominance in the Ghana’s payments system, according to the central bank’s data.
The total value of mobile money transactions increased from 334.8 billion cedis in December 2024 to 518.4 billion cedis in 2025, a gain of about 55%, according to the Bank of Ghana’s Summary of Economic and Financial Data. Transaction volumes also rose, with the number of MoMo transactions increasing to 982 million in December from 745 million a year earlier.
The growth was driven by an expanding user base and higher activity levels. Registered MoMo accounts rose to 80.5 million at the end of 2025, up from 73.0 million in December 2024. Active accounts, defined as wallets that transacted at least once in the previous 90 days, increased to 26.7 million from 23.5 million over the same period.
Agent networks also expanded, supporting wider access across the country. The number of registered mobile money agents rose to 960,000 in December, while active agents increased to 491,000, compared with 883,000 registered agents and 404,000 active agents a year earlier.
Customer balances held in mobile wallets climbed alongside transaction growth. MoMo float balances rose to 39.6 billion cedis in December, up from 27.2 billion cedis at the end of 2024, indicating higher usage for savings and transactional purposes, businesses are holding more liquidity within digital wallets to manage daily operations.
Interoperable mobile money transactions, which allow transfers across networks and between banks and wallets, also increased. The value of interoperable transactions rose to 5.8 billion cedis in December from 3.1 billion cedis a year earlier, while transaction volumes grew to 28.7 million from 19.9 million.
The scale of activity highlights how MoMo has become the default channel for customer payments, supplier settlements and wage transfers, particularly for small and informal enterprises that operate outside traditional banking.
Still, the data point to areas needing improvement. Despite strong growth, interoperability volumes remain small relative to overall mobile money activity.
By contrast, traditional payment instruments continued to lag. Cheque transaction values stood at 37.3 billion cedis in December, far below mobile money volumes, reinforcing the shift toward digital payments for retail and commercial activity.
As inflation eased and monetary conditions conitnued to loosen late in the year, the data show mobile money has moved beyond a convenience tool to core business infrastructure.
