MTN MoMo Grows by 4.1%, Boosting Employment
By Praisebell Rosemond Larbi
MTN Ghana’s Mobile Money (MoMo) service continues to dominate Ghana’s fast-growing digital finance ecosystem, adding more than 700,000 new active users in the past year to reach 17.7 million by the third quarter of 2025, while also creating thousands of jobs for young people across the country.
The growth, representing a 4.1% year-on-year increase, reflects the surge in cashless transactions as more Ghanaians turn to digital platforms for payments, savings, and business operations. It also underscores MTN’s expanding role in driving financial inclusion, job creation, and entrepreneurship through technology.
According to the company’s latest operational and financial report, MoMo revenue climbed 39.2% year-on-year to GH¢4.3 billion, one of the strongest performances within its service portfolio. The increase was driven by higher transaction volumes, a growing user base, and the rapid adoption of digital financial services such as mobile lending and merchant payments.
Revenue from advanced MoMo services rose sharply by 62.9% to GH¢1.4 billion, while basic services grew by 30%, indicating stronger demand for more sophisticated financial solutions among users. Overall, Mobile Money now accounts for nearly a quarter (24.9%) of MTN Ghana’s total service revenue, up slightly from 24.4% the previous year.
Beyond financial growth, MTN Ghana’s MoMo platform has emerged as one of the country’s largest sources of informal employment. The company’s agent network, comprising tens of thousands of mobile money vendors, many of them young people, has created sustainable income opportunities nationwide. Industry observers say this has helped curb unemployment, especially among youth in peri-urban and rural areas where formal jobs remain limited.
“MoMo has become more than a financial service; it’s a livelihood for many young Ghanaians,” an MTN spokesperson noted, highlighting that the agent ecosystem continues to expand alongside investments in training, technology, and security.
The company said the strong performance reflects a deliberate strategy to strengthen its fintech ecosystem through network reliability, security, and user experience. Policy reforms, including the removal of the e-levy and measures to reduce cash-out charges, have also encouraged customers to keep more funds within the digital system. MTN Ghana’s overall service revenue grew by 36.3% to GH¢17.3 billion, supported by data, voice, and MoMo services. Data revenue rose by 46.8% to GH¢9.3 billion, while voice revenue increased by 9.3% to GH¢2.9 billion, despite the continuing shift toward internet-based calls.
The telecom operator said it has invested over GH¢3.3 billion this year in network expansion and IT infrastructure, enhancing coverage and service quality for millions of users. These improvements have strengthened MoMo’s reliability, enabling agents and customers in remote areas to transact securely and efficiently.
MTN reaffirmed its commitment to scaling up its digital finance infrastructure and deepening partnerships with banks, merchants, and regulators to advance interoperability. The company said it remains focused on supporting Ghana’s broader goal of building a cash-lite economy and creating sustainable jobs through digital inclusion.
“With every new connection, every agent empowered, and every transaction made, MTN MoMo is not only transforming payments but also building livelihoods and supporting national development,” the company said.
