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Ghana Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The Ghana mobile money industry reached a transaction value of US$ 68.3 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 23% during 2021-2026. 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 at the period 2021-2026. Our report has categorized the market based on technology, business model and transactions 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:

  • MTN
  • Vodafone
  • Tigo
  • Airtel
     

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
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$ 1999
Five User License: US$ 2999
Corporate License: US$ 3999
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
        8.2.1    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$), 2015-2020
Figure 3: Ghana: Mobile Money Market: Breakup by Technology (in %), 2020
Figure 4: Ghana: Mobile Money Market: Breakup by Business Model (in %), 2020
Figure 5: Ghana: Mobile Money Market: Breakup by Transactions Type (in %), 2020
Figure 6: Ghana: Mobile Money Market Forecast: Transaction Value (in Billion US$), 2021-2026
Figure 7: Ghana: Mobile Money Industry: SWOT Analysis
Figure 8: Ghana: Mobile Money Industry: Porter’s Five Forces Analysis
Figure 9: Ghana: Mobile Money Market (USSD): Transaction Value (in Billion US$), 2015 & 2020
Figure 10: Ghana: Mobile Money Market Forecast (USSD): Transaction Value (in Billion US$), 2021-2026
Figure 11: Ghana: Mobile Money Market (Mobile Wallets): Transaction Value (in Billion US$), 2015 & 2020
Figure 12: Ghana: Mobile Money Market Forecast (Mobile Wallets): Transaction Value (in Billion US$), 2021-2026
Figure 13: Ghana: Mobile Money Market (Others): Transaction Value (in Billion US$), 2015 & 2020
Figure 14: Ghana: Mobile Money Market Forecast (Others): Transaction Value (in Billion US$), 2021-2026
Figure 15: Ghana: Mobile Money Market (Mobile Led Model): Transaction Value (in Billion US$), 2015 & 2020
Figure 16: Ghana: Mobile Money Market Forecast (Mobile Led Model): Transaction Value (in Billion US$), 2021-2026
Figure 17: Ghana: Mobile Money Market (Bank Led Model): Transaction Value (in Billion US$), 2015 & 2020
Figure 18: Ghana: Mobile Money Market Forecast (Bank Led Model): Transaction Value (in Billion US$), 2021-2026
Figure 19: Ghana: Mobile Money Market (Peer to Peer): Transaction Value (in Billion US$), 2015 & 2020
Figure 20: Ghana: Mobile Money Market Forecast (Peer to Peer): Transaction Value (in Billion US$), 2021-2026
Figure 21: Ghana: Mobile Money Market (Bill Payments): Transaction Value (in Billion US$), 2015 & 2020
Figure 22: Ghana: Mobile Money Market Forecast (Bill Payments): Transaction Value (in Billion US$), 2021-2026
Figure 23: Ghana: Mobile Money Market (Airtime Top-ups): Transaction Value (in Billion US$), 2015 & 2020
Figure 24: Ghana: Mobile Money Market Forecast (Airtime Top-ups): Transaction Value (in Billion US$), 2021-2026
Figure 25: Ghana: Mobile Money Market (Others): Transaction Value (in Billion US$), 2015 & 2020
Figure 26: Ghana: Mobile Money Market Forecast (Others): Transaction Value (in Billion US$), 2021-2026
Figure 27: Ghana: Mobile Money Market: Breakup by Key Players (in %)


List of Tables

Table 1: Ghana: Mobile Money Market: Key Industry Highlights, 2020 and 2026
Table 2: Ghana: Mobile Money Market Forecast: Breakup by Technology (in Billion US$), 2021-2026
Table 3: Ghana: Mobile Money Market Forecast: Breakup by Business Model (in Billion US$), 2021-2026
Table 4: Ghana: Mobile Money Market Forecast: Breakup by Transactions Type (in Billion US$), 2021-2026
Table 5: Ghana: Mobile Money Market: Competitive Structure

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