A report from the Bank of Ghana has revealed that the total value of mobile money transactions in the first half of 2019 has hit ¢140.2 billion ($26.96 billion) as against ¢104.6 billion ($19.01) recorded for the same period in 2018.
This represents a 34% rise in the value of transactions recorded for the period under review, which is higher than the volume of bank transactions.
According to the report, the patronage of cheques for the first half of this year dropped as compared to the same period in 2018.
According to report by Joy Fm, Cheques cleared at various banks dropped from ¢ 99.3 billion ($19 billion) in 2018 to ¢84.5 billion ($16.25), representing 15% reduction.
In addition, the mobile money interoperability which allows customers to transfer money from one network to another recorded a value of ¢217.6 million ($41.84 million) as of June this year as against ¢212.9 million ($40.94 million) recorded last year.
DAP/GIK/APA