Market Overview:
The Ghana mobile money market size reached US$
121.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$
590.7 Billion by 2028, exhibiting a growth rate (CAGR) of
29.6% during 2023-2028.
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.
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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.
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 2023-2028. Our report has categorized the market based on technology, business model and transaction type.
Breakup by Technology:
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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.
- 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 |
2022 |
Historical Period |
2017-2022 |
Forecast Period |
2023-2028 |
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) |