Ghanaians are holding unprecedented amounts of money in their mobile money accounts, with wallet balances climbing to a record GH¢40 billion in June 2026 as digital financial services become increasingly embedded in everyday economic activity.

According to the latest payment systems data from the Bank of Ghana, the total float held in mobile money wallets increased significantly from GH¢28.9 billion in June 2025 to GH¢40 billion a year later, representing an annual growth of more than 38%.

The surge highlights a shift in how consumers and businesses use mobile money. Rather than treating digital wallets solely as channels for sending and receiving funds, many users are now keeping larger balances on their accounts to finance daily spending, business transactions and unexpected expenses.

The growing preference for retaining funds electronically reflects rising trust in digital payment systems and a continued move away from cash-based transactions. Mobile money is increasingly functioning as a practical financial tool for households, traders and small businesses across the country.

The expansion of the sector was also evident in the number of users. Registered mobile money accounts rose to 84.6 million in June 2026, up from 76.4 million a year earlier. Meanwhile, active accounts reached 26.4 million, indicating that millions of customers continue to rely on mobile wallets for routine financial activities.

Transaction volumes remained exceptionally strong during the month. Mobile money platforms processed 954 million transactions with a total value of GH¢492.9 billion, underlining the widespread use of the service for merchant payments, salary transfers, utility bill payments, domestic remittances and person-to-person transactions.

Growth was equally reflected in the industry’s agent network. Registered mobile money agents surpassed one million for the first time, reaching 1.016 million, while the number of active agents increased to 546,000.

The larger agent base is expected to improve access to digital financial services nationwide, particularly in communities where access to traditional banking infrastructure remains limited.

Cross-network transactions also continued to increase as interoperability strengthened across the industry. During June, customers completed 33 million transfers between different mobile money platforms with a combined value of GH¢6.2 billion, demonstrating the growing ease of moving funds across providers.

The latest Bank of Ghana figures underscore the expanding role of mobile money within the country’s financial system. What began primarily as a payment and money transfer service has evolved into a key platform for storing value, supporting commerce and broadening financial inclusion.

With user numbers, wallet balances and transaction values all continuing to rise, mobile money is expected to remain a major driver of Ghana’s digital economy and a critical tool for expanding access to formal financial services.