Value of MoMo transactions shoots up by over 120% in a year – BoG
The value of mobile money transactions has more than doubled in the last twelve months, according to the Bank of Ghana.
The total value shot up by over 120 percent from February 2020 to February 2021. On a monthly basis, the value of transactions from January to February saw a minimal increase of about 1 percent.
This was contained in the Central Bank’s Summary of Macroeconomic and Financial Data report.
Apart from a few periods of reduction over the past 12 months, the value of mobile money transactions in Ghana has generally seen a consistent rise.
After dropping marginally to GHS32.8 billion in April 2020, the month after Ghana recorded its first coronavirus cases, a surge in the value of mobile money transactions was seen in May, as the figure shot up to GHS41.5 billion, re...
