The Summary of Economic and Financial Data of the Bank of Ghana (BoG) for May 2022 has shown that Mobile Money (MoMo) transactions for the first four months of this year have hit GH¢331.2 billion.
The figure showed almost 10% year-on-year growth compared with the first four months of 2021 when mobile money transactions stood at GH¢301.1 billion.
According to the BoG data, MoMo transaction for January this year was GH¢76.2 billion and GH¢76.8 billion in February.
The data also showed that the transactions for March and April were GH¢90.5 billion and GH¢87.7 billion respectively.
However, the data revealed that MoMo transactions grew for the first three months of this year but slowed down in April.
Meanwhile, mobile money transactions for the same period in 2021 were also estimated at GH¢67.1 billion in January 2021 and GH¢67.9 billion in February 2021 whiles March and April last year were GH¢82.3 billion and GH¢83.8 billion respectively.
MoMo interoperability
The BoG’s data also indicated that mobile money interoperability recorded in the first four months reached GH¢10.51 billion compared with GH¢4.59 billion during the same period in 2021.
