The value of mobile money transactions in Ghana, in the second quarter, rose by 14.8%, hitting GH¢661 billion despite a 2.6% fall in the number of mobile money active agent, the Bank of Ghana’s Q2 Fintech report has revealed.

According to the report, active mobile money customers by the end of June 2024, grew to 24.4 million while active agent fell to 551,000, lowest since October 2023.

Nevertheless, the mobile money transactions for the three months in the second quarter, i.e April, May & June, hit some GH¢203 bn, GH¢234.3 bn and GH¢224.0 bn respectively, crossing the GH¢200 bn mark for the first time ever.

Between the first two quarters of the year, Agent to Agent transactions rose by 33% from GH¢171.19 bn to GH¢228.03 bn. Bank to Wallets and 3rd party transactions also saw a rise in transaction values. However, Wallet to Bank transfers recorded a slowdown by 14% from GH¢ 39.19 bn to GH¢ 33.88 bn.

Currently, Ghana’s fintech space has a GH¢ 22.2 bn balance floating.

Attached is the Bank of Ghana’s Quarter Two fintech report: