Ghana’s Mobile Money Surge Hits GH¢447.4bn in February, Cementing Digital Payments Dominance

Ghana’s mobile money ecosystem continues its rapid expansion, with transaction values reaching GH¢447.4 billion in February 2026—underscoring its growing dominance as the country’s leading platform for digital payments and financial inclusion.

According to the latest Summary of Economic and Financial Data released by the Bank of Ghana on March 17, 2026, the figure marks a sharp increase from GH¢316.2 billion recorded in February 2025, reflecting sustained year-on-year growth in digital financial activity.

The data shows that mobile money platforms processed 899 million transactions in February. Although this represents a slight decline from the 949 million recorded in January and the peak of 982 million in December 2025, transaction volumes remain significantly higher than the 698 million recorded during the same period last year—highlighting strong underlying momentum.

Agent Network Expansion Drives Reach

The infrastructure supporting mobile money services is also deepening. The number of registered agents rose to 976,000 in February 2026, up from 896,000 a year earlier. More notably, active agents—those consistently facilitating transactions—increased to 515,000 from 411,000, signaling stronger engagement and accessibility at the community level.

Meanwhile, balances held in mobile money float accounts stood at GH¢33.9 billion. Though slightly lower than January’s GH¢35.6 billion, the figure represents a substantial increase from GH¢27.9 billion in February 2025.

Interoperability Gains Momentum

Cross-network transactions are becoming increasingly seamless. Interoperability transactions climbed to GH¢4.9 billion in February, up from GH¢2.9 billion a year earlier. In volume terms, transactions rose to 27.2 million from 19.7 million, reflecting growing user confidence in transferring funds across different mobile money platforms.

Rising Account Penetration

Mobile money adoption continues to broaden. Registered accounts increased marginally to 81.8 million in February, from 81.2 million in January. Active accounts—defined as those used within the past 90 days—reached 26.5 million, pointing to a large and engaged user base driving the ecosystem.

Wider Economic Signals

The mobile money performance forms part of a broader macroeconomic snapshot by the Bank of Ghana, which also highlighted easing inflation, shifts in interest rates, currency developments, and strong capital market performance. Notably, the GSE Composite Index recorded an impressive year-to-date growth of 46.7 percent as of February 2026, with market capitalization rising to GH¢235.7 billion.

Overall, the February figures reinforce mobile money’s central role in Ghana’s financial system—driving digital transactions, expanding financial access, and shaping the future of payments despite seasonal fluctuations in transaction volumes.