New figures released by the Bank of Ghana (BoG) show a tremendous growth in the value of mobile money transactions from January to September 2017, compared to the same period in 2016.
According to the data, total value of mobile money transactions from January to September 2016 increased from 51.4 billion cedis to 109 billion cedis.
This represents 112.2 percent growth in the value of mobile money transactions in the period.
The figure recorded in the first 9 months of 2017 is also far bigger than the whole of 2016— which was 78.5 billion cedis.
The BoG data also shows an increase in the volume of transactions on the mobile money platform in the same period.
Total volume of mobile money transactions for January to September 2016 almost doubled from 368 million to 685 million in January to September 2017, representing 86.1 percent growth.
The data also indicated that registered agents in the same period under review increased from 123,129 to 163,869 thousand, showing 33 percent growth in people who joined the business as agents.
Meanwhile, registered mobile money accounts for January to September 2016 saw a surge from 18.8 million accounts to 22 million accounts in 2017.
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By: Lawrence Segbefia/citibusinessnews.com/Ghana