This month Ghana celebrates mobile money month.
Kicking off with a series of nation-wide events hosted by MTN under the theme “Lets go cashless with mobile money”, the celebrations aim to highlight the role this innovative service has played in the daily lives of Ghanaians.
It’s been a remarkable journey. Nearly one in five Ghanaians today is an active user of mobile money, more than double the total just one year ago.
In June 2016 the Central Bank released figures showing that mobile money transactions in Ghana had grown 20% since the end of 2015, reaching GHC 679.17 million ($177.9 million).
Mobile money is a digital financial service that lets people store, send and receive money on a basic mobile phone, without requiring a bank account.
Services like MTN Mobile Money, Airtel Money, Tigo Cash, and the most recent newcomer Vodafone Cash, offer Ghanaians a simple alternative to making these transactions in cash.