Mobile money (MoMo) transactions in Ghana surged to a record GH¢518.4 billion in December 2025, underscoring the growing dominance of digital payments in the country’s financial system, according to the latest Bank of Ghana Summary of Economic and Financial Data.
The December figure represents the highest monthly value recorded in 2025, driven by increased consumer activity during the festive season and sustained expansion in mobile money usage. Transaction volumes climbed to 982 million transactions, up from 892 million in November, reflecting both higher spending and wider adoption of digital payment channels.
Active mobile money accounts rose sharply to 26.7 million in December, compared with 25.5 million a month earlier, while the number of registered accounts increased to 80.5 million, highlighting continued financial inclusion gains
The mobile money agent network also expanded, with 491,000 active agents recorded at the end of the year.
Balances held on mobile money wallets climbed to GH¢39.6 billion, the highest level in 2025, suggesting stronger liquidity in the digital payments ecosystem and growing confidence in mobile wallets as a store of value.
Interoperable mobile money transactions also strengthened in December, with transaction values rising to GH¢5.8 billion, up from GH¢4.9 billion in November, supported by increased cross-network transfers during the holiday period.
By contrast, traditional payment instruments continued to play a smaller role. Cheque transactions amounted to GH¢37.3 billion in December, significantly below mobile money values, while electronic payment channels such as GhIPSS Instant Pay recorded GH¢73.3 billion in transaction value during the month.
With this, the data reinforces mobile money’s position as the backbone of Ghana’s retail payments system, with seasonal spending, rising smartphone penetration and agent network expansion expected to sustain growth into 2026.
Fiscal discipline strengthens as Ghana’s debt stock stands at GH¢644bn
