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Ghana Mobile Money Market Report by Technology (USSD, Mobile Wallets, and Others), Business Model (Mobile Led Model, Bank Led Model), Transaction Type (Peer to Peer, Bill Payments, Airtime Top-Ups, and Others) 2025-2033

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    Report

  • 133 Pages
  • February 2025
  • Region: Ghana
  • IMARC Group
  • ID: 5742967
The Ghana mobile money market size reached USD 192.2 Billion in 2024. Looking forward, the market is forecast to reach USD 934.0 Billion by 2033, exhibiting a growth rate (CAGR) of 18.24% during 2025-2033.

Mobile money is a payment type based on accounts held by a mobile operator and accessible from subscribers’ mobile phones. It offers simple person-to-person transactions rather than complex banking transactions. It provides an easy, fast, secure and cost-effective way of making payment.

Ghana is one of the major African mobile money markets. The factors like increasing trend of convenience in service delivery, expansion in mobile money agent network and implementation of mobile money interoperability, are driving the mobile money market in the region. Various regulations and guidelines have also been implemented to strengthen and protect the mobile money system in the country. People in the country are preferring mobile payment mode in order to eliminate the threat of theft. Moreover, recent developments in mobile money interoperability have boosted the efficiency and accessibility to transfer the money easily for various applications. The EMI (electronic money issuers) guidelines introduced by the bank of Ghana has contributed a lot to the growth of mobile money system in the region. In addition to this, various other factors are also accelerating the growth of the market such as government support, rising internet penetration, implementation of interoperability and increasing financial literacy.

Market Segmentation

This report provides an analysis of the key trends in each sub-segment of the Ghana mobile money market report, along with forecasts for the period 2025-2033. The report has categorized the market based on technology, business model and transaction type.

Breakup by Technology

  • USSD
  • Mobile Wallets
  • Others
Currently, USSD holds majority of the market share in the Ghana mobile money market.

Breakup by Business Model

  • Mobile Led Model
  • Bank Led Model
Currently, mobile led model holds the largest share in the Ghana mobile money market.

Breakup by Transaction Type

  • Peer to Peer
  • Bill Payments
  • Airtime Top-ups
  • Others
Currently, peer to peer transaction type holds the highest share in the market.

Competitive Landscape

The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry. Some of the key players include:
  • MTN
  • Vodafone
  • Tigo
  • Airtel

Key Questions Answered in This Report

1. How big is the mobile money market in Ghana?
2. What factors are driving the growth of the Ghana mobile money market?
3. What is the forecast for the mobile money market in Ghana?
4. Which segment accounted for the largest Ghana mobile money technology market share?
5. Which segment accounted for the largest Ghana mobile money business model market share?
6. Which segment accounted for the largest Ghana mobile money transaction type market share?
7. Who are the major players in the Ghana mobile money market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Ghana Mobile Money Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Technology
5.5 Market Breakup by Business Model
5.6 Market Breakup by Transaction Type
5.7 Market Forecast
5.8 SWOT Analysis
5.8.1 Overview
5.8.2 Strengths
5.8.3 Weaknesses
5.8.4 Opportunities
5.8.5 Threats
5.9 Value Chain Analysis
5.10 Porters Five Forces Analysis
5.10.1 Overview
5.10.2 Bargaining Power of Buyers
5.10.3 Bargaining Power of Suppliers
5.10.4 Degree of Competition
5.10.5 Threat of New Entrants
5.10.6 Threat of Substitutes
6 Market Breakup by Technology
6.1 USSD
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Mobile Wallets
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Others
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Business Model
7.1 Mobile Led Model
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Bank Led Model
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Transaction Type
8.1 Peer to Peer
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Bill Payments
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Airtime Top-ups
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Regulatory Framework
10 Competitive Landscape
10.1 Market Structure
10.2 Key players
10.3 Profile of key players
10.3.1 MTN
10.3.2 Vodafone
10.3.3 Tigo
10.3.4 Airtel
List of Figures
Figure 1: Ghana: Mobile Money Market: Major Drivers and Challenges
Figure 2: Ghana: Mobile Money Market: Transaction Value (in Billion USD), 2019-2024
Figure 3: Ghana: Mobile Money Market: Breakup by Technology (in %), 2024
Figure 4: Ghana: Mobile Money Market: Breakup by Business Model (in %), 2024
Figure 5: Ghana: Mobile Money Market: Breakup by Transaction Type (in %), 2024
Figure 6: Ghana: Mobile Money Market Forecast: Transaction Value (in Billion USD), 2025-2033
Figure 7: Ghana: Mobile Money Industry: SWOT Analysis
Figure 8: Ghana: Mobile Money Industry: Value Chain Analysis
Figure 9: Ghana: Mobile Money Industry: Porter’s Five Forces Analysis
Figure 10: Ghana: Mobile Money Market (USSD): Transaction Value (in Billion USD), 2019 & 2024
Figure 11: Ghana: Mobile Money Market Forecast (USSD): Transaction Value (in Billion USD), 2025-2033
Figure 12: Ghana: Mobile Money Market (Mobile Wallets): Transaction Value (in Billion USD), 2019 & 2024
Figure 13: Ghana: Mobile Money Market Forecast (Mobile Wallets): Transaction Value (in Billion USD), 2025-2033
Figure 14: Ghana: Mobile Money Market (Others): Transaction Value (in Billion USD), 2019 & 2024
Figure 15: Ghana: Mobile Money Market Forecast (Others): Transaction Value (in Billion USD), 2025-2033
Figure 16: Ghana: Mobile Money Market (Mobile Led Model): Transaction Value (in Billion USD), 2019 & 2024
Figure 17: Ghana: Mobile Money Market Forecast (Mobile Led Model): Transaction Value (in Billion USD), 2025-2033
Figure 18: Ghana: Mobile Money Market (Bank Led Model): Transaction Value (in Billion USD), 2019 & 2024
Figure 19: Ghana: Mobile Money Market Forecast (Bank Led Model): Transaction Value (in Billion USD), 2025-2033
Figure 20: Ghana: Mobile Money Market (Peer to Peer): Transaction Value (in Billion USD), 2019 & 2024
Figure 21: Ghana: Mobile Money Market Forecast (Peer to Peer): Transaction Value (in Billion USD), 2025-2033
Figure 22: Ghana: Mobile Money Market (Bill Payments): Transaction Value (in Billion USD), 2019 & 2024
Figure 23: Ghana: Mobile Money Market Forecast (Bill Payments): Transaction Value (in Billion USD), 2025-2033
Figure 24: Ghana: Mobile Money Market (Airtime Top-ups): Transaction Value (in Billion USD), 2019 & 2024
Figure 25: Ghana: Mobile Money Market Forecast (Airtime Top-ups): Transaction Value (in Billion USD), 2025-2033
Figure 26: Ghana: Mobile Money Market (Others): Transaction Value (in Billion USD), 2019 & 2024
Figure 27: Ghana: Mobile Money Market Forecast (Others): Transaction Value (in Billion USD), 2025-2033
Figure 28: Ghana: Mobile Money Market: Breakup by Key Players (in %)
List of Tables
Table 1: Ghana: Mobile Money Market: Key Industry Highlights, 2024 and 2033
Table 2: Ghana: Mobile Money Market Forecast: Breakup by Technology (in Billion USD), 2025-2033
Table 3: Ghana: Mobile Money Market Forecast: Breakup by Business Model (in Billion USD), 2025-2033
Table 4: Ghana: Mobile Money Market Forecast: Breakup by Transaction Type (in Billion USD), 2025-2033
Table 5: Ghana: Mobile Money Market: Competitive Structure
Table 6: Ghana: Mobile Money Market: Key Players

Companies Mentioned

  • MTN
  • Vodafone
  • Tigo
  • Airtel

Methodology

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Table Information