MoMo transactions hit GH¢264.1billion - Report

There has been a 72.6% growth in the transaction of Mobile Money (MoMo) - year-on-year.

According to the March 2022 Summary of Economic and Financial Data by the Bank of Ghana, the total value of mobile money transactions in the first two months of 2023 hit GH¢264.1 billion.

It noted that despite the implementation of the Electronic Transaction Levy (E-Levy), the industry has witnessed an upsurge.

Compared to MoMo transactions last year, [GH¢153 billion], there has been significant growth in the first two months of 2023.

In a report sighted by GhanaWeb Business, the Bank of Ghana said, "mobile money transaction in January 2023 was estimated at GH¢130.1 billion, compared with GH¢76.2 billion during the same period in 2022."

"It rose further to GH¢134.0 billion in February 2023. This is against GH¢76.5 billion during the same period in 2022," it added.

The introduction of the E-Levy, according to the government forms part of measures to help improve its domestic revenue mobilisation.



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ESA/FNOQ