Mobile money hits GH¢493bn in April 2026, transactions rise 35%

Ghana’s mobile money sector has recorded another year of remarkable growth, with transaction value reaching an unprecedented GH¢493.2 billion in April 2026, further cementing digital finance as a critical driver of economic activity and financial inclusion across the country.

Latest figures released in the Bank of Ghana May 2026 Summary of Economic and Financial Data show that the value of mobile money transactions increased significantly from GH¢365.0 billion recorded in April 2025, representing a year-on-year growth of approximately 35.1 per cent.

The volume of transactions also rose sharply over the same period, climbing from 778 million transactions in April 2025 to 967 million in April 2026. The increase highlights the growing reliance of Ghanaians on mobile money platforms for daily financial activities, including transfers, merchant payments, savings, utility payments, and small business transactions.

The latest data underscore how mobile money has evolved far beyond its original purpose as a basic peer-to-peer transfer service. Today, it has become a central pillar of Ghana’s financial ecosystem and one of the country’s most dominant payment channels.

According to the Bank of Ghana data, registered mobile money accounts increased from 75.2 million in April 2025 to 83.0 million in April 2026. More importantly, active mobile money accounts — defined as accounts that conducted at least one transaction within the previous 90 days — grew from 24.2 million to 26.0 million.

Analysts say the rise in active accounts suggests stronger consumer confidence and deeper integration of digital financial services into everyday life, rather than merely an increase in dormant or inactive registrations.

The sector’s operational infrastructure also expanded considerably during the review period. Registered mobile money agents rose from 911,000 to 992,000, while active agents increased from 414,000 to 534,000.

The growth in active agents is particularly important for rural and underserved communities where access to traditional banking services remains limited. Mobile money agents continue to serve as vital financial access points for millions of people who rely on digital wallets for transactions, savings, and cash withdrawals.

Another key trend highlighted in the report is the increasing tendency of users to store funds in their mobile wallets instead of using them only as temporary transfer channels.

The balance on float — which represents the total funds held in mobile money wallets — rose from GH¢28.2 billion in April 2025 to GH¢36.7 billion in April 2026. Financial experts believe this trend reflects growing public trust in mobile money platforms and suggests that many users now treat their wallets as short-term savings tools.

Cross-network mobile money interoperability also continued to improve. The value of interoperability transactions increased from GH¢4.0 billion in April 2025 to GH¢5.8 billion in April 2026, while transaction volumes rose from 23.1 million to 31.7 million.

The figures point to a more integrated digital payments ecosystem where subscribers can transfer funds more seamlessly across different mobile networks without restrictions.

Mobile money’s dominance becomes even more evident when compared to other payment systems operating within Ghana’s financial sector.

Cheque transactions recorded a total value of GH¢36.6 billion in April 2026, representing less than eight per cent of mobile money transaction value during the same period. Meanwhile, Ghana Interbank Payment and Settlement Systems (GhIPSS) Instant Pay processed GH¢79.0 billion, while internet banking transactions reached GH¢42.0 billion — both significantly lower than the GH¢493.2 billion processed through mobile money platforms.

By both transaction value and volume, mobile money remains Ghana’s largest and most widely used payment channel by a substantial margin.

The latest figures reaffirm the growing transformation of Ghana into a largely digital financial economy, where mobile money has become the primary means through which millions of citizens participate in commerce, banking, and everyday economic activity.

Industry experts say continued investments in digital infrastructure, interoperability, cybersecurity, and financial literacy will be critical to sustaining the sector’s rapid growth and ensuring broader financial inclusion nationwide.