Ghana’s digital payments surge amid inclusion gaps
Ghana has registered 76 million mobile money accounts with 24 million active users. The Bank of Ghana oversees payment providers through the Payment Systems and Services Act of 2019. The country became one of the first African nations to link mobile wallets across networks in 2018.
Digital payments reach markets, farms, hospitals, and schools. The Better Than Cash Alliance helped 10,000 cocoa farmers receive electronic transfers for their crops. Women use digital accounts at rates about 7 percent lower than men.
The Institute of Statistical, Social and Economic Research found that only one-third of companies use formal digital payment systems. Agricultural businesses often rely on personal mobile accounts, which come with higher fees. Rural areas face gaps in connectivity and digital skills.
Ghana hosts the African Continental Free Trade Area Secretariat and shares lessons on payment regulation with other countries. The government wants a 24-hour economy that relies on transactions beyond standard business hours. Digital finance allows traders and service providers to work safely at night.
