Total cash-in values of mobile money increased by 64.5% to ¢164.80 billion in 2021, from ¢100.17 billion in 2020.
The Bank of Ghana’s Payment Systems Oversight Annual Report has revealed. This resulted in a 29.1% increase in average cash-in value to ¢264 in 2021, from ¢204 in 2020.
Cash-in values constituted 12.1% of total transaction volumes in 2021, compared to 16.3% in 2020.
However, the total value of cash-out transactions increased by 23.7% to ¢96.50 billion in 2021, from ¢78.01 billion in 2020.
Similarly, the average cash-out value increased by 18.0% to ¢179 in 2021, from ¢152 in 2020.
Airtime top-up led the top three e-money wallet-based transaction types, in terms of volume, the Bank of Ghana added.
It was followed by cash-in and cash-out of mobile money transactions.
However, the top three in terms of value were cash-in, P2B payments and cash-outs.
According to the Central Bank, the average mobile money transaction value increased by 16.3% to ¢230 in 2021, from ¢198 in 2020.
Mobile Money transactions register 9.99% year-on-year growth in 4-months of 2022
Mobile Money transactions recorded 9.99% year-on-year growth to ¢331.2 billion in the first four months of 2022.
However, in the first four months of 2021, Mobile Money transactions stood at ¢301.1 billion.
According to data from the Bank of Ghana, transactions via Mobile Money grew consecutively until April 2022 when it dipped slightly.
The Electronic Transaction Levy (E-levy) was implemented from May 1st, 2022 and that could have accounted for the slight dip in the April 2022 number.