The Ghana mobile money market size reached USD 192.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 934.0 Billion by 2033, exhibiting a growth rate (CAGR) of 18.24% during 2025-2033.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 192.2 Billion |
Market Forecast in 2033
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USD 934.0 Billion |
Market Growth Rate 2025-2033 | 18.24% |
Mobile money is a payment type based on accounts held by a mobile operator and accessible from subscribers’ mobile phones. It offers simple person-to-person transactions rather than complex banking transactions. It provides an easy, fast, secure and cost-effective way of making payment.
Ghana is one of the major African mobile money markets. The factors like increasing trend of convenience in service delivery, expansion in mobile money agent network and implementation of mobile money interoperability, are driving the mobile money market in the region. Various regulations and guidelines have also been implemented to strengthen and protect the mobile money system in the country. People in the country are preferring mobile payment mode in order to eliminate the threat of theft. Moreover, recent developments in mobile money interoperability have boosted the efficiency and accessibility to transfer the money easily for various applications. The EMI (electronic money issuers) guidelines introduced by the bank of Ghana has contributed a lot to the growth of mobile money system in the region. In addition to this, various other factors are also accelerating the growth of the market such as government support, rising internet penetration, implementation of interoperability and increasing financial literacy.
IMARC Group provides an analysis of the key trends in each sub-segment of the Ghana mobile money market report, along with forecasts for the period 2025-2033. Our report has categorized the market based on technology, business model and transaction type.
Breakup by Technology:
Currently, USSD holds majority of the market share in the Ghana mobile money market.
Breakup by Business Model:
Currently, mobile led model holds the largest share in the Ghana mobile money market.
Breakup by Transaction Type:
Currently, peer to peer transaction type holds the highest share in the market.
The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry. Some of the key players include:
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Segment Coverage | Technology, Business Model, Transaction Type |
Companies Covered | MTN, Vodafone, Tigo, Airtel |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The Ghana mobile money market was valued at USD 192.2 Billion in 2024.
We expect the Ghana mobile money market to exhibit a CAGR of 18.24% during 2025-2033.
The introduction of EMI (Electronic Money Issuers) guidelines by the Bank of Ghana, along with the growing adoption of mobile payment for conducting easy and fast payments, is primarily driving the Ghana mobile money market.
The sudden outbreak of the COVID-19 pandemic has led to the rising adoption of mobile money over conventional cash-based methods across the nation to administer the financial transactions with minimal human interaction to mitigate the risk of the coronavirus infection.
Based on the technology, the Ghana mobile money market can be segmented into USSD, mobile wallets, and others. Currently, USSD technology holds the majority of the total market share.
Based on the business model, the Ghana mobile money market has been divided into mobile led model and bank led model, where mobile led model currently exhibits a clear dominance in the market.
Based on the transaction type, the Ghana mobile money market can be categorized into peer to peer, bill payments, airtime top-ups, and others. Among these, peer to peer transaction type accounts for the largest market share.
Some of the major players in the Ghana mobile money market include MTN, Vodafone, Tigo, Airtel, etc.