Mobile Money Transactions Surge Amidst E-Levy Charges

Mobile Money transactions fell by 18.58% to ¢71.4 billion in May 2022, the period of execution of the Electronic Transaction Levy (E-Levy).

Nonetheless, in the period of June 2022, the transactions by means of Mobile Money went up to ¢77.4 billion, an 8.4% development.

As indicated by information from the Bank of Ghana, Mobile Money exchanges developed continuously until April 2022 when it plunged marginally.

The Mobile Money exchanges in the initial four months of this current year were January 2022 (¢76.2 billion), February 2022 (¢76.8 billion), March 2022 (¢90.5 billion), and April 2022 (¢87.7 billion) separately.

Similarly to the similar period in 2021, Mobile Money exchanges were assessed in January 2021 (¢67.1 billion), February 2021 (¢67.9 billion), March 2021 (¢82.3 billion), and April 2021 (¢83.8 billion) separately.

During the entire year of 2021, even with the declaration of E-demand, there were month-on-month fluctuations in Mobile Money exchanges.

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In the meantime, total Mobile Money exchanges for the main portion of this current year were assessed at ¢480 billion.

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This is contrasted with ¢476.7 billion during a similar period last year.

In the initial half year of 2021, Mobile Money transactions recorded were January 2021 (¢67.1 billion), February (¢67.9 billion), March 2022 (¢82.3 billion), April 2022 (¢83.8 billion), May 2022 (¢86.5 billion) and June 2022 (¢89.1 billion) separately.

Regarding Mobile Money Interoperability, ¢13.77 billion was kept in the principal half of 2022, contrasted with ¢10.51 billion in the initial four months of 2022.

Without a doubt, Mobile Money is the greatest payment method in the country with an expected ¢905.1 billion exchanges kept in 2021.

As per information from the Bank of Ghana, the worth of mobile cash exchanges in January, February, March, April, May, June, July, August, September, October, November, and December 2021 were assessed at ¢67.1 billion, ¢67.9 billion, ¢82.3 billion, ¢83.8 billion, ¢86.5 billion, ¢89.1 billion in a specific order,

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