Mobile Money transactions in only 2 months of 2023 hit ¢264.1bn
In the first two months of 2023, Mobile Money transactions totaled 264.1 billion, a rise of nearly 72.6% over the previous year.
This large increase demonstrates that despite the Electronic Transaction Levy, Mobile Money transactions are reaching historic highs (E-Levy).
All mobile money transactions in the first two months of 2022 were 153 billion.
According to the Bank of Ghana’s March 2022 Summary of Economic and Financial Statistics, mobile money transactions were predicted to have cost 130.1 billion Ghana cedis in January 2023 as opposed to 76.2 billion during the same period in 2022.
In February 2023, it increased further to $134.0 billion.
Comparatively, 76.5 billion were spent during the same time period in 2022.
1.07 trillion was the record number of mobile money transactions in 2022.
Total Mobile Money transactions in 2022 reached a new high of 1.07 trillion yen.
Comparatively, in 2022, there were roughly 902.5 billion reported.
The data shows that the largest trades, totaling 122 billion and 117 billion respectively, took place in December 2022 and November 2022.
There were concerns that the May 2022 start date for the E-Levy might have an impact on Mobile Money transactions, but this was not the case.
According to the data, Mobile Money transactions have increased significantly since May 2022, when the E-levy went into effect.
Total Mobile Money transactions hit record ¢1.07trillion in 2022DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.