MoMo Transactions Hit GHS¢264.1B Within The First 2 Months Of 2023

In the first two months of 2023, Mobile Money transactions totalled 264.1 billion, a growth of about 72.6% from the previous year.

This significant increase demonstrates that despite the Electronic Transaction Levy, Mobile Money transactions are reaching record highs (E-Levy).

Total mobile money transactions in the first two months of 2022 were 153 billion.

According to the Bank of Ghana’s March 2022 Summary of Economic and Financial Data, mobile money transactions were estimated to have cost 130.1 billion Ghana cedis in January 2023 as opposed to 76.2 billion during the same period in 2022.

In February 2023, it increased further to $134.0 billion. Comparatively, 76.5 billion were spent during the same time period in 2022.

1.07 trillion was the record number of mobile money transactions in 2022.

Total Mobile Money transactions in 2022 reached a record high of 1.07 trillion yen.

Comparatively, in 2022, there were about 902.5 billion recorded.

The data shows that the largest trades, totaling 122 billion and 117 billion respectively, took place in December 2022 and November 2022.

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