Ghana Mobile Money Market Report by Technology (USSD, Mobile Wallets, and Others), Business Model (Mobile Led Model, Bank Led Model), Transaction Type (Peer to Peer, Bill Payments, Airtime Top-ups, and Others) 2024-2032

Ghana Mobile Money Market Report by Technology (USSD, Mobile Wallets, and Others), Business Model (Mobile Led Model, Bank Led Model), Transaction Type (Peer to Peer, Bill Payments, Airtime Top-ups, and Others) 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A1449
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Market Overview:

The Ghana mobile money market size reached US$ 161.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 789.5 Billion by 2032, exhibiting a growth rate (CAGR) of 19.2% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 161.3 Billion
Market Forecast in 2032
US$ 789.5 Billion
Market Growth Rate 2024-2032 19.2%


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.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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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 report, along with forecasts for the period 2024-2032. Our report has categorized the market based on technology, business model and transaction type.

Breakup by Technology:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • 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 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Technology, Business Model, Transaction Type
Companies Covered MTN, Vodafone, Tigo, Airtel
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
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

The Ghana mobile money market was valued at US$ 161.3 Billion in 2023.

We expect the Ghana mobile money market to exhibit a CAGR of 19.2% during 2024-2032.

The introduction of EMI (Electronic Money Issuers) guidelines by the Bank of Ghana, along with the growing adoption of mobile payment for conducting easy and fast payments, is primarily driving the Ghana mobile money market.

The sudden outbreak of the COVID-19 pandemic has led to the rising adoption of mobile money over conventional cash-based methods across the nation to administer the financial transactions with minimal human interaction to mitigate the risk of the coronavirus infection.

Based on the technology, the Ghana mobile money market can be segmented into USSD, mobile wallets, and others. Currently, USSD technology holds the majority of the total market share.

Based on the business model, the Ghana mobile money market has been divided into mobile led model and bank led model, where mobile led model currently exhibits a clear dominance in the market.

Based on the transaction type, the Ghana mobile money market can be categorized into peer to peer, bill payments, airtime top-ups, and others. Among these, peer to peer transaction type accounts for the largest market share.

Some of the major players in the Ghana mobile money market include MTN, Vodafone, Tigo, Airtel, etc.

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Ghana Mobile Money Market Report by Technology (USSD, Mobile Wallets, and Others), Business Model (Mobile Led Model, Bank Led Model), Transaction Type (Peer to Peer, Bill Payments, Airtime Top-ups, and Others) 2024-2032
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