Tuesday
January 28
2020

How Mobile Money Is Taking Over the Finance Sector in Ghana, Records Massive Growth in 2019

By Berlinda Entsie

According to the report, transactions between mobile money platforms (mobile money interoperability) and services on the e-zwich platform also contributed to the growth in transaction volumes with 317% and 39% increase respectively.

“The value of the transactions for 2019 was GH ¢781.6 million, compared to GH¢212.8 million in 2018, and the volume of transaction shot up massively from 2.2 million in 2018 to 9.4 million last year.”

The totals for 2019 comprised of wallet-to-wallet, wallet-to-bank, bank-to-wallet, wallet-to-e-zwich and e-zwich-to-wallet transactions.

Photo courtesy of John O’Bryan.

Source: Pulse Ghana (link opens in a new window)

Categories
Finance
Tags
emerging markets, fintech, mobile money, telecommunications