Market Overview:
The Ghana mobile money market reached a value of US$ 92 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 494 Billion by 2027, exhibiting a CAGR of 32.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Mobile money is a payment type based on accounts held by a mobile operator and accessible from subscribers’ mobile phones. It offers simple person-to-person transactions rather than complex banking transactions. It provides an easy, fast, secure and cost-effective way of making payment.
Ghana is one of the major African mobile money markets. The factors like increasing trend of convenience in service delivery, expansion in mobile money agent network and implementation of mobile money interoperability, are driving the mobile money market in the region. Various regulations and guidelines have also been implemented to strengthen and protect the mobile money system in the country. People in the country are preferring mobile payment mode in order to eliminate the threat of theft. Moreover, recent developments in mobile money interoperability have boosted the efficiency and accessibility to transfer the money easily for various applications. The EMI (electronic money issuers) guidelines introduced by the bank of Ghana has contributed a lot to the growth of mobile money system in the region. In addition to this, various other factors are also accelerating the growth of the market such as government support, rising internet penetration, implementation of interoperability and increasing financial literacy.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Ghana mobile money market, along with forecasts for the period 2022-2027. Our report has categorized the market based on technology, business model and transaction type.
Breakup by Technology:
- USSD
- Mobile Wallets
- Others
Currently, USSD holds majority of the market share in the Ghana mobile money market.
Breakup by Business Model:
- Mobile Led Model
- Bank Led Model
Currently, mobile led model holds the largest share in the Ghana mobile money market.
Breakup by Transaction Type:
- Peer to Peer
- Bill Payments
- Airtime Top-ups
- Others
Currently, peer to peer transaction type holds the highest share in the market.
Competitive Landscape:
The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry. Some of the key players include:
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2021 |
| Historical Period |
2016-2021 |
| Forecast Period |
2022-2027 |
| Units |
US$ Billion |
| Segment Coverage |
Technology, Business Model, Transaction Type |
| Companies Covered |
MTN, Vodafone, Tigo and Airtel |
| Customization Scope |
10% Free Customization |
| Report Price and Purchase Option |
Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699 |
| Post-Sale Analyst Support |
10-12 Weeks |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the Ghana mobile money market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Ghana mobile money market?
- What is the breakup of the Ghana mobile money market based on the technology?
- What is the breakup of the Ghana mobile money market based on the business model?
- What is the breakup of the Ghana mobile money market based on the transaction type?
- What are the various stages in the value chain of the Ghana mobile money market?
- What are the key driving factors and challenges in Ghana mobile money market?
- What is the structure of the Ghana mobile money market and who are the key players?
- What is the degree of competition in the Ghana mobile money market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Ghana Mobile Money Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Technology
5.5 Market Breakup by Business Model
5.6 Market Breakup by Transaction Type
5.7 Market Forecast
5.8 SWOT Analysis
5.8.1 Overview
5.8.2 Strengths
5.8.3 Weaknesses
5.8.4 Opportunities
5.8.5 Threats
5.9 Value Chain Analysis
5.10 Porters Five Forces Analysis
5.10.1 Overview
5.10.2 Bargaining Power of Buyers
5.10.3 Bargaining Power of Suppliers
5.10.4 Degree of Competition
5.10.5 Threat of New Entrants
5.10.6 Threat of Substitutes
6 Market Breakup by Technology
6.1 USSD
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Mobile Wallets
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Others
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Business Model
7.1 Mobile Led Model
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Bank Led Model
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Transaction Type
8.1 Peer to Peer
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Bill Payments
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Airtime Top-ups
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Regulatory Framework
10 Competitive Landscape
10.1 Market Structure
10.2 Key players
10.3 Profile of key players
10.3.1 MTN
10.3.2 Vodafone
10.3.3 Tigo
10.3.4 Airtel
List of Figures
Figure 1: Ghana: Mobile Money Market: Major Drivers and Challenges
Figure 2: Ghana: Mobile Money Market: Transaction Value (in Billion US$), 2016-2021
Figure 3: Ghana: Mobile Money Market: Breakup by Technology (in %), 2021
Figure 4: Ghana: Mobile Money Market: Breakup by Business Model (in %), 2021
Figure 5: Ghana: Mobile Money Market: Breakup by Transaction Type (in %), 2021
Figure 6: Ghana: Mobile Money Market Forecast: Transaction Value (in Billion US$), 2022-2027
Figure 7: Ghana: Mobile Money Industry: SWOT Analysis
Figure 8: Ghana: Mobile Money Industry: Value Chain Analysis
Figure 9: Ghana: Mobile Money Industry: Porter’s Five Forces Analysis
Figure 10: Ghana: Mobile Money Market (USSD): Transaction Value (in Billion US$), 2016 & 2021
Figure 11: Ghana: Mobile Money Market Forecast (USSD): Transaction Value (in Billion US$), 2022-2027
Figure 12: Ghana: Mobile Money Market (Mobile Wallets): Transaction Value (in Billion US$), 2016 & 2021
Figure 13: Ghana: Mobile Money Market Forecast (Mobile Wallets): Transaction Value (in Billion US$), 2022-2027
Figure 14: Ghana: Mobile Money Market (Others): Transaction Value (in Billion US$), 2016 & 2021
Figure 15: Ghana: Mobile Money Market Forecast (Others): Transaction Value (in Billion US$), 2022-2027
Figure 16: Ghana: Mobile Money Market (Mobile Led Model): Transaction Value (in Billion US$), 2016 & 2021
Figure 17: Ghana: Mobile Money Market Forecast (Mobile Led Model): Transaction Value (in Billion US$), 2022-2027
Figure 18: Ghana: Mobile Money Market (Bank Led Model): Transaction Value (in Billion US$), 2016 & 2021
Figure 19: Ghana: Mobile Money Market Forecast (Bank Led Model): Transaction Value (in Billion US$), 2022-2027
Figure 20: Ghana: Mobile Money Market (Peer to Peer): Transaction Value (in Billion US$), 2016 & 2021
Figure 21: Ghana: Mobile Money Market Forecast (Peer to Peer): Transaction Value (in Billion US$), 2022-2027
Figure 22: Ghana: Mobile Money Market (Bill Payments): Transaction Value (in Billion US$), 2016 & 2021
Figure 23: Ghana: Mobile Money Market Forecast (Bill Payments): Transaction Value (in Billion US$), 2022-2027
Figure 24: Ghana: Mobile Money Market (Airtime Top-ups): Transaction Value (in Billion US$), 2016 & 2021
Figure 25: Ghana: Mobile Money Market Forecast (Airtime Top-ups): Transaction Value (in Billion US$), 2022-2027
Figure 26: Ghana: Mobile Money Market (Others): Transaction Value (in Billion US$), 2016 & 2021
Figure 27: Ghana: Mobile Money Market Forecast (Others): Transaction Value (in Billion US$), 2022-2027
Figure 28: Ghana: Mobile Money Market: Breakup by Key Players (in %)
List of Tables
Table 1: Ghana: Mobile Money Market: Key Industry Highlights, 2021 and 2027
Table 2: Ghana: Mobile Money Market Forecast: Breakup by Technology (in Billion US$), 2022-2027
Table 3: Ghana: Mobile Money Market Forecast: Breakup by Business Model (in Billion US$), 2022-2027
Table 4: Ghana: Mobile Money Market Forecast: Breakup by Transaction Type (in Billion US$), 2022-2027
Table 5: Ghana: Mobile Money Market: Competitive Structure
Table 6: Ghana: Mobile Money Market: Key Players