Ghana’s digital finance landscape is undergoing a major transformation as mobile money transactions continue to surge, further cementing the role of fintech platforms in everyday financial activity.
New figures from MobileMoney Limited, the fintech subsidiary of Scancom PLC (operators of MTN Ghana), show that mobile money transactions reached an impressive **GH¢4.1 trillion in 2025**, representing a **53.8% increase** from the GH¢2.7 trillion recorded in 2024.
The growth underscores how digital wallets are rapidly becoming the primary channel for financial transactions across the country.
### Mobile money adoption expands
The surge in transaction values was driven by increasing adoption of mobile money services by individuals and businesses. Active users on the platform grew by **12.3% to 19.3 million**, up from 17.2 million the previous year.
At the same time, the number of transactions carried out through the platform climbed from **7.1 billion to 8.4 billion**, highlighting the growing reliance on digital payment tools for daily financial activities.
Industry observers say the rapid growth reflects a broader shift in Ghana’s financial system, where mobile-based services are increasingly outperforming traditional banking channels in terms of transaction volumes.
### Wallet balances surge as trust grows
Another sign of the expanding ecosystem is the sharp rise in funds held in customer mobile wallets.
The total **MoMo float**—the value of money stored in mobile wallets—jumped by **60.9% to GH¢38.4 billion**, compared with GH¢23.9 billion in 2024.
Analysts say the increase signals growing consumer confidence in mobile wallets not only as a payment channel but also as a **store of value**.
### Digital payments and fintech services drive revenue
Financial performance also improved significantly during the year.
Revenue generated from mobile money services rose by **35.7% to GH¢6 billion**, up from GH¢4.4 billion in 2024.
The growth was largely supported by increased usage of **advanced fintech services**, including merchant payments, digital transactions, and mobile lending.
Revenue from these services alone grew by **55.9% to GH¢2 billion**, indicating rising demand for more sophisticated financial solutions within the mobile money ecosystem.
Meanwhile, revenue from traditional services such as withdrawals and transfers also increased by **27.2%**, partly attributed to stronger transfer activity following the removal of the electronic transfer levy.
### Gradual shift away from cash withdrawals
The structure of mobile money usage is also evolving as more customers conduct payments directly through their wallets.
Withdrawals, which previously dominated mobile money usage, declined as a share of revenue from **51.2% in 2024 to 45.6% in 2025**.
In contrast, peer-to-peer transfers increased their contribution from **28.9% to 33.7%**, while advanced services rose to **20.7%** of revenue.
Financial analysts say this trend reflects the **maturation of Ghana’s mobile money market**, where digital payments are increasingly replacing cash-out transactions.
### Mobile money outpaces traditional banking channels
The scale of activity on mobile money platforms now far exceeds that of digital banking systems.
According to data from the Bank of Ghana, transaction values processed through mobile money platforms significantly surpass those recorded on traditional bank digital platforms.
Experts attribute the dominance of mobile money to its accessibility. Unlike banks that require formal account opening processes and physical branches, mobile money services rely on agent networks, mobile phones, and USSD technology to provide financial access to millions of people, including those without bank accounts.
### Strong profitability and restructuring
The strong operational performance also translated into solid returns for shareholders.
MobileMoney Limited recorded a **Return on Assets (ROA) of 12.5%**, while earnings per share rose by **55.8% to GH¢0.592**.
Meanwhile, the company is undergoing structural changes to align with regulatory requirements.
A planned merger between MobileMoney Limited and MobileMoney Fintech Limited is currently in progress following shareholder approval in December 2025.
The restructuring is being undertaken by Scancom PLC in compliance with the **Payment Systems and Services Act, 2019 (Act 987)**, which aims to strengthen regulation and localisation of fintech operations in Ghana.
Once completed, the merger is expected to further streamline operations within the rapidly expanding digital payments sector.
### Digital finance reshaping Ghana
With **19.3 million active users**, **8.4 billion yearly transactions**, and **GH¢4.1 trillion in transaction value**, mobile money platforms are increasingly redefining how Ghanaians access financial services.
Industry experts say the continued growth of digital finance is likely to deepen financial inclusion and accelerate Ghana’s transition toward a **cash-lite economy**.
