This archive report was first published on 3 September 2019.
Published on September 3, 2019, the Bank of Ghana's Payment Statistics Report revealed a significant increase in mobile money transactions in the first half of 2019.
The value of mobile money transactions rose by 34% from GH¢104 billion in the half-year of 2018 to GH¢140 billion in the same period in 2019.
As mobile money transactions surged, other payment systems experienced a decline. Cheque payments, for instance, saw a decline in both volume and value.
The volume of cheques declined from 3,638,930 in the half-year of 2018 to 3,354,751 in the same period in 2019, representing a 7.81% contraction.
The value of cheque transactions also declined from GH¢99.3 billion to GH¢84.5 billion, representing a contraction of 14.96%.
On the other hand, mobile money interoperability showed an increase in value from GH¢212 million between May and December 2018 to GH¢217 million from January to June 2019.
