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Ghana Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

Ghana Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

  • August 2019
  • 109 pages
  • ID: 5808131
  • Format: PDF
  • By IMARC Group

Summary

Table of Contents

The Ghana mobile money industry reached a transaction value of US$ 36.1 Billion in 2018. Mobile money is a payment type based on accounts held by a mobile operator and accessible from subscribers’ mobile phones. It offers simple person-to-person transactions rather than complex banking transactions. It provides an easy, fast, secure and cost-effective way of making payment.

Ghana is one of the major African mobile money markets. The factors like increasing trend of convenience in service delivery, expansion in mobile money agent network and implementation of mobile money interoperability, are driving the mobile money market in the region. Various regulations and guidelines have also been implemented to strengthen and protect the mobile money system in the country. People in the country are preferring mobile payment mode in order to eliminate the threat of theft. Moreover, recent developments in mobile money interoperability have boosted the efficiency and accessibility to transfer the money easily for various applications. The EMI (electronic money issuers) guidelines introduced by the bank of Ghana has contributed a lot to the growth of mobile money system in the region. In addition to this, various other factors are also accelerating the growth of the market such as government support, rising internet penetration, implementation of interoperability and increasing financial literacy. Catalyzed by these factors, the analyst expects the market to reach a transaction value of US$ 204.3 Billion by 2024, growing at a CAGR of 32.5% during 2019-2024.

Report Coverage

Market Breakup by Technology

USSD
Mobile Wallets
Others
Currently, USSD holds majority of the market share in the Ghana mobile money market.

Market Breakup by Business Model

Mobile Led Model
Bank Led Model
Currently, mobile led model holds the largest share in the Ghana mobile money market.

Market Breakup by Transaction Type

Peer to Peer
Bill Payments
Airtime Top-ups
Others
Currently, peer to peer transaction type holds the highest share in the market.

Competitive Landscape:
The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry. Some of the key players include:

MTN
Vodafone
Tigo
Airtel

Key Questions Answered in This Report:
How has the Ghana mobile money market performed so far and how will it perform in the coming years?
What is the breakup of the Ghana mobile money market based on the technology?
What is the breakup of the Ghana mobile money market based on the business model?
What is the breakup of the Ghana mobile money market based on the transaction type?
What are the various stages in the value chain of the Ghana mobile money market?
What are the key driving factors and challenges in Ghana mobile money market?
What is the structure of the Ghana mobile money market and who are the key players?
What is the degree of competition in the Ghana mobile money market?

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