Mobile Money transactions in the first month (January) of 2022 grew by 13.56% year-on-year to ¢76.2 billion, the Bank of Ghana has revealed in its Summary of Economic and Financial Data.

In the month of January 2021, mobile money transactions stood at ¢67.9 billion, whilst ¢82.9 billion was recorded in December 2021.

Based on the trend of Mobil Money transaction in 2021, one cannot immediately conclude that there has been a decline in Mobile Money transactions, as a result of the anticipated approval of the Electronic Transaction Levy.

This is because there were month-on-month fluctuation in Mobile Money transactions in 2021.

In terms of Mobile Money Interoperability, ¢2.107 billion was recorded in January 2022, higher than the ¢906 million registered in January 2021.

The registered Mobile Money Accounts also stood at 48.4 million in January 2022, up from 48.3 million in December 2021.

Undoubtedly, Mobile Money remained the biggest payment solution in the country with an estimated ¢905.1 billion transactions recorded in 2021.

According to data from the Bank of Ghana, the value of mobile money transactions in January, February, March, April, May, June, July, August, September, October, November and December 2021 were estimated at ¢67.1 billion, ¢67.9 billion, ¢82.3 billion, ¢83.8 billion, ¢86.5 billion, ¢89.1 billion, ¢99.1 billion, ¢81.8 billion, ¢71 billion, ¢80.0 billion, ¢86.1 billion and ¢82.9 billion respectively.

Source: Joy Business