IMARC Group, a leading market research company, has recently releases report titled “Ghana Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The study provides a detailed analysis of the industry, including the Ghana mobile money market trends, size, share, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Ghana mobile money market?
The Ghana mobile money market size reached US$ 121.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 590.7 Billion by 2028, exhibiting a growth rate (CAGR) of 29.6% during 2023-2028.
Ghana Mobile Money Market Overview:
Mobile money refers to payment methods that allow users to store, receive, and spend money using a mobile phone. In terms of technology, they can be categorized into unstructured supplementary service data (USSD), mobile wallets, and others. These mobile money solutions are predominantly based on the accounts held by a mobile operator and are accessible from the mobile phones of the subscribers. They facilitate easy person-to-person transactions, bill payments, and airtime top-ups, etc., as compared to complex banking procedures and prove to be extremely safe and convenient. As a result, mobile money technologies are in high demand among consumers in Ghana.
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Ghana Mobile Money Market Trends:
The shifting preferences toward innovative payment services that aid in eliminating the threat of theft are primarily driving the Ghana mobile money market. Additionally, the emerging trend of convenience in service delivery and the expanding mobile money agent networks are acting as significant growth-inducing factors. Besides this, the implementation of several stringent regulations and policies by government bodies, such as electronic money issuers (EMI) guidelines introduced by the bank of Ghana, aimed at preventing disputes and frauds in the mobile money system, is also positively influencing the market across the country. Moreover, the rising improvements in mobile money interoperability to boost the efficiency and accessibility of transferring money easily for numerous applications is further catalyzing the market growth. Apart from this, the escalating usage of the technology by multiple businesses as the main account for financial transactions, the increasing penetration of high-speed internet, and the elevating financial literacy are anticipated to catalyze the Ghana mobile money market over the forecasted period.
Competitive Landscape With Key Players:
The competitive landscape of the 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:
- MTN
- Vodafone
- Tigo
- Airtel
Key Market Segmentation:
The report has segmented the Ghana mobile money market on the basis of technology, business model, transaction type.
Breakup by Technology:
- USSD
- Mobile Wallets
- Others
Breakup by Business Model:
- Mobile Led Model
- Bank Led Model
Breakup by Transaction Type:
- Peer to Peer
- Bill Payments
- Airtime Top-ups
- Others
Browse the full report with TOC and List of Figures: https://www.imarcgroup.com/ghana-mobile-money-market
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