Ghana: Mobile Money Accounts grew by 21.34% in 2017

Jun 21, 2018 | Ecofin Agency

In Ghana, the number of mobile savings accounts reached 23.9 million in 2017, reflecting an increase by 21.34% compared to the 19.7 million recorded the previous year. This was indicated by Bank of Ghana in its Payments Systems Oversight-Annual Report 2017.

Meanwhile, the number of bank accounts slightly grew to 12.5 million from 11.7 million in 2016. This reflects that “Ghanaians preferred mobile money services over traditional banking services”, the report said. Bank of Ghana also pointed out that the number of online banking services customers decreased to nearly 937,000 in 2017, down 2.65% from 963,000 in 2016. Source: Ecofin Agency