Ghana Hits Record GHC365 Billion in Monthly Mobile Money Transactions Following E-Levy Scrap
Mobile Money Sector Surges to All-Time High in April 2025, Bank of Ghana Data Shows
Ghana’s mobile money ecosystem has reached an unprecedented milestone, with total transactions hitting GHC365 billion in April 2025—marking the highest ever recorded in a single month. The surge follows the recent scrapping of the controversial Electronic Transfer Levy (E-Levy), which had long been criticized for slowing digital financial transactions.
According to the latest Summary of Economic and Financial Data published by the Bank of Ghana, April’s mobile money transactions increased by GHC10 billion compared to the GHC355 billion recorded in March 2025. Year-on-year, the growth is even more dramatic—April 2024 saw just GHC170.3 billion in transactions, meaning the sector has more than doubled in volume within 12 months.
E-Levy Removal Drives Digital Transaction Growth
Analysts attribute the sharp rise in mobile money activity to the government’s recent removal of the 1.5% E-Levy, which previously applied to all mobile money transfers exceeding GHC100. The tax, introduced in May 2022, faced strong public opposition and was widely seen as a deterrent to the growth of digital finance in Ghana.
Since its repeal in March 2025, mobile money usage has soared, with fintech and telecom companies reporting increased wallet activity across various demographics, including small businesses and informal sector workers.
Broader Implications for Financial Inclusion and Digital Economy
Experts believe the latest record is more than a statistical achievement—it signals increasing trust in mobile money platforms and a growing shift towards a cash-lite economy. The development is also expected to positively impact financial inclusion, particularly among the unbanked population.
The central bank continues to monitor digital transaction trends as part of its broader efforts to modernize the financial sector and promote inclusive growth.
Read Also: GoldBod: Ghana’s Small-Scale Gold Exports Hit $2.7 Billion in Early 2025
