Total mobile money transactions for the first four months of 2023 surpassed \u00a2550 billion, about 66.2% year-on-year growth, data from the Bank of Ghana has revealed.<\/p>\n\n\n\n
This is compared with \u00a2331.2 billion recorded during the same period in 2022.<\/p>\n\n\n\n
If the trend continues, the total mobile money transactions for this year will once again exceed \u00a21 trillion.<\/p>\n\n\n\n
According to the May 2022 Summary of Economic and Financial Data by the Bank of Ghana, Mobile Money transactions in January 2023 were estimated at \u00a2130.1 billion, compared with \u00a276.2 billion during the same period in 2022.<\/p>\n\n\n\n
It surged to \u00a2134.0 billion in February 2023 (February 2022: \u00a276.5 billion) and subsequently to \u00a2147.5 billion in March 2023 (March 2022: \u00a290.5 billion).<\/p>\n\n\n\n
It however fell to \u00a2138.8 billion in April 2023 (\u00a287.7 billion).<\/p>\n\n\n\n
The impressive growth in mobile money transactions comes despite the 1% Electronic Transaction Levy (E-Levy).<\/p>\n\n\n\n
From the data, Mobile Money transactions have been surging since the implementation of E-levy in May 2022 at 1.5% rate.<\/p>\n\n\n\n
On\u00a011 January 2023, the government reduced the tax rate on the electronic transactions from 1.5% to 1.0%.<\/p>\n\n\n\n
Despite the growth in mobile money transactions, revenue has been well below the government\u2019s expectations.<\/p>\n\n\n\n Total mobile money transactions for the first four months of 2023 surpassed \u00a2550 billion, about 66.2% year-on-year growth, data from the Bank of Ghana has revealed. This is compared with \u00a2331.2 billion recorded during the same period in 2022. If the trend continues, the total mobile money transactions for this year will once again exceed […]<\/p>\n","protected":false},"author":13,"featured_media":33915,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[61],"tags":[7358,7396,5446,9127,192,2264,6543,6306,5612,8383,1502,3954],"class_list":["post-33914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bank","tag-data","tag-e-levy","tag-february","tag-ghana","tag-government","tag-growth","tag-mobile-money","tag-money","tag-revenue","tag-tax","tag-will"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/33914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=33914"}],"version-history":[{"count":0,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/33914\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/33915"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=33914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=33914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=33914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}MONTH<\/strong><\/td> 2022 (BILLION)<\/strong><\/td> 2023 (BILLION)<\/strong><\/td><\/tr> January<\/td> \u00a276.2<\/td> \u00a2130.1 billion<\/td><\/tr> February<\/td> \u00a276.5<\/td> \u00a2134.0 billion<\/td><\/tr> March<\/td> \u00a290.5<\/td> \u00a2147.5 billion<\/td><\/tr> April<\/td> \u00a287.7<\/td> \u00a2138.8 billion<\/td><\/tr> TOTAL<\/strong><\/td> \u00a2331.2<\/strong><\/td> \u00a2550.4<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"