MoMo Transactions Surge to Record GH¢518bn in December 2025 – BoG
By Praisebell Rosemond Larbi
Mobile money (MoMo) transactions in Ghana climbed to an all-time high of GH¢518.4 billion in December 2025, reinforcing the growing dominance of digital payments in the country’s financial system, according to the latest Summary of Economic and Financial Data released by the Bank of Ghana (BoG).
The December outturn represents the highest monthly transaction value recorded in 2025, reflecting heightened consumer activity during the festive season as well as the sustained expansion of mobile money usage across households, businesses and government-related payments.
Transaction volumes also rose sharply, reaching 982 million transactions in December, compared to 892 million in November, signalling both increased spending and deeper penetration of mobile-based payment platforms nationwide.
The BoG data showed that active mobile money accounts increased to 26.7 million in December, up from 25.5 million a month earlier. Meanwhile, the total number of registered mobile money accounts rose to 80.5 million, underscoring continued progress in financial inclusion and the widening reach of digital financial services.
The expansion was further supported by growth in the mobile money agent network, with 491,000 active agents recorded at the end of December. Analysts say the scale and geographical spread of agents remain a key driver of mobile money adoption, especially in peri-urban and rural communities where access to traditional banking infrastructure remains limited.
Balances held in mobile money wallets climbed to GH¢39.6 billion, the highest level recorded in 2025. This suggests rising confidence in mobile wallets not only as a payment tool but also as a store of value, particularly for short-term savings and transactional liquidity.
Interoperable mobile money transactions also strengthened during the period. Transaction values increased to GH¢5.8 billion in December, up from GH¢4.9 billion in November, driven largely by higher cross-network transfers and merchant payments during the holiday season.
In contrast, traditional payment instruments continued to lag behind. Cheque transactions amounted to GH¢37.3 billion in December, significantly lower than mobile money transaction values, highlighting the steady shift away from paper-based payments. Other electronic payment channels also trailed mobile money, with GhIPSS Instant Pay (GIP) recording GH¢73.3 billion in transaction value for the month.
Industry observers say the latest data confirms mobile money’s role as the backbone of Ghana’s retail payments ecosystem, supported by favourable regulation, growing smartphone penetration, interoperability, and consumer trust.
Looking ahead, seasonal spending patterns, continued innovation by mobile money operators, and expanding use cases in areas such as merchant payments, government collections and digital lending are expected to sustain strong growth into 2026, further entrenching mobile money at the centre of Ghana’s evolving digital economy.
