By Ashiadey Dotse
MobileMoney Limited (MML), the fintech subsidiary of Scancom PLC, has recorded significant growth in its mobile money business, with the value of funds held in customer wallets rising sharply to GH¢38.4 billion in 2025.
The figure represents a 60.9% increase from GH¢23.9 billion recorded in 2024, highlighting growing trust among customers in mobile wallets as a safe place to store money and make transactions.
The strong growth also reflects the rapid expansion of digital payments in Ghana, where mobile money continues to play a central role in everyday financial activities.
Alongside the rise in wallet balances, the company also reported strong earnings. Revenue from the mobile money business increased by 35.7% to GH¢6 billion in 2025, up from GH¢4.4 billion the previous year.
The increase was driven largely by a growing number of users and increasing reliance on digital financial services.
Active mobile money users on the platform grew by 12.3% to 19.3 million in 2025, compared with 17.2 million in 2024. This further strengthens mobile money’s position as the most widely used financial service platform in the country.
Transaction activity within the ecosystem also expanded significantly during the period. Total transaction volume increased by 18.4%, rising from 7.1 billion transactions in 2024 to 8.4 billion transactions in 2025.
The value of transactions recorded an even bigger increase, climbing by 53.8% from GH¢2.7 trillion to GH¢4.1 trillion.
According to analysts, the scale of these transactions shows how mobile money has become a major part of Ghana’s digital economy.
Data from the Bank of Ghana indicates that mobile money now forms the backbone of retail financial transactions across the country.
A breakdown of revenue sources also shows changes in how customers are using mobile money services.
Revenue from basic services such as withdrawals and transfers increased by 27.2%, largely due to stronger transfer activity following the abolition of the electronic transfer levy (E-levy).
However, the fastest growth came from advanced services, including digital payments, merchant transactions and mobile lending. Revenue from these services rose by 55.9% to GH¢2 billion.
The data also shows that withdrawals are gradually declining as a share of revenue, dropping from 51.2% in 2024 to 45.6% in 2025. Meanwhile, peer-to-peer transfers increased their contribution from 28.9% to 33.7%, while advanced services rose from 19.4% to 20.7%.
Experts say this shift indicates that users are increasingly relying on mobile wallets for payments, business transactions and loans rather than simply withdrawing cash.
Mobile money transactions have also grown far larger than digital transactions within the traditional banking sector.
Analysts say the difference highlights the transformation taking place in Ghana’s financial system, where mobile network operators are becoming key financial service providers.
Unlike traditional banks that require formal account-opening processes and physical branches, mobile money platforms use agent networks, USSD services and mobile phones to reach millions of users, including those without bank accounts.
This accessibility has made mobile money the preferred platform for everyday activities such as money transfers, merchant payments, bill payments and small loans.
The company also reported strong financial performance, recording a Return on Assets (ROA) of 12.5%, while earnings per share increased by 55.8% to GH¢0.592.
Meanwhile, structural changes are underway within the business. Following shareholder approval in December 2025, a merger between MobileMoney Limited and MobileMoney Fintech Limited is currently in progress.
The restructuring is part of efforts by Scancom PLC to comply with the country’s Payment Systems and Services Act, 2019 (Act 987) and strengthen regulatory oversight of the rapidly expanding digital payments sector.
Once completed, the merger is expected to support further growth in Ghana’s digital finance industry.
With 19.3 million active users, 8.4 billion transactions annually, and GH¢4.1 trillion in transaction value, mobile money continues to reshape how people in Ghana access and use financial services.
