Mobile Money transactions in Ghana dropped by 24 million in June 2024, causing a decline in total value from GHS 234.3bn to GHS 224bn.
Mobile Money (MoMo) transactions in Ghana dropped by 24 million in June 2024, with a decline in total value to GHS 224bn from GHS 234.3bn in May, according to the Bank of Ghana. The balance of float (money held in mobile money accounts) grew marginally from GHS 21.1bn to GHS 22.2bn. The decrease in MoMo services is attributed to economic and regulatory factors impacting user behavior and market dynamics, as well as requests to reduce or abolish the E-levy rate.
July 28, 2024
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