Forecast: Number of ATMs (Automated Teller Machines) in Ghana

Between 2013 and 2023, the number of ATMs per hundred thousand persons in Ghana exhibited variable growth. The annual increase was substantial in the early years, peaking with a 48.13% rise in 2013, but began to stabilize with smaller fluctuations in subsequent years. In 2023, the count stood at 12.2 ATMs per hundred thousand persons, reflecting a year-on-year increase of 3.39% and a modest Compound Annual Growth Rate (CAGR) of 1.17% over the last five years.

Looking forward, from 2024 through 2028, Ghana's ATM growth is expected to remain positive but moderate, with a forecasted CAGR of 2.12% and an overall growth rate of 11.04% over the five-year period. Key trends include a gradual increase in ATM deployment as digital banking infrastructure becomes more robust and widespread, coupled with a steady rise in demand for financial services accessibility across diverse demographics.

Future trends to watch for:

• The impact of mobile and digital banking solutions on ATM usage and growth
• Infrastructure development in rural and underserved areas
• Technological advancements and their potential to enhance the ATM experience
• Policy and regulatory changes that might influence the banking sector