According to the latest report by IMARC Group, titled “Ghana Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”. The Ghana mobile money market reached a value of US$ 92 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 494 Billion by 2027, exhibiting a CAGR of 32.5% during 2022-2027.
Mobile money represents an electronic wallet service used by individuals via smartphones and cellular data. It generally offers simple person-to-person transactions rather than complex banking transactions. In addition to this, mobile money is based on wireless technology, such as QR code scanning, near field communication (NFC), SMS-based transactional methods, etc., to facilitate a fast, convenient, and secure mode of payment. Furthermore, it provides easy refund policies and flexible options for the users. As a result, mobile money is gaining extensive traction across Ghana.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Ghana Mobile Money Market Trends:
The emerging trend of convenience in service delivery and the growing penetration of high-speed internet connectivity are primarily driving the Ghana mobile money market. Additionally, the launch of various favorable policies by government bodies in the country for regulating the mobile money system in order to eliminate the increasing prevalence of money laundering and theft is also stimulating the market growth. Besides this, the expanding mobile money agent network and the rising investments by private and public firms for improving mobile money interoperability are acting as significant growth-inducing factors. Moreover, the widespread adoption of mobile devices and the escalating literacy rate are further bolstering the market growth. Apart from this, the elevating integration of the banking, financial services, and insurance (BFSI) sector with big data and artificial intelligence (AI) is projected to fuel the Ghana mobile money market in the coming years.
Competitive Landscape With Key Players:
The competitive landscape of the India Ghana mobile money market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Key Market Segmentation:
The report has segmented the Ghana mobile money market on the basis of technology, business model, transaction type.
Breakup by Technology:
- Mobile Wallets
Breakup by Business Model:
- Mobile Led Model
- Bank Led Model
Breakup by Transaction Type:
- Peer to Peer
- Bill Payments
- Airtime Top-ups
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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