Industry News

Ghana’s mobile money sector has recorded a surge in the first two months of 2025, reaching a total transaction value of GH¢649.2 billion, according to data from the Bank of Ghana (BoG).

This marks a 64.68 per cent year-on-year increase, reflecting the rapid adoption of digital financial services across the country.

In January 2025, mobile money transactions amounted to GH¢333 billion, before experiencing a slight decline to GH¢316.2 billion in February 2025. Despite the month-on-month dip, the overall figures indicate a sustained upward trend in mobile money adoption.

Comparatively, in the same period of 2024, mobile money transactions were valued at GH¢394.2 billion. The sharp increase in transaction volumes highlights growing consumer confidence in mobile money as a convenient and secure financial transaction method.

In 2024, total mobile money transactions reached an unprecedented GH¢3.0192 trillion, reflecting a 57.90 per cent year-on-year growth. With the removal of the E-Levy, experts predict that Ghana’s mobile money market will expand at an even faster pace in the coming months.
Rising Mobile Money usage and agent expansion

The growth of Ghana’s mobile money sector is further demonstrated by the increasing number of registered accounts. As of February 2025, the total number of registered mobile money accounts stood at 74.1 million, up from 66.9 million during the same period in 2024.

Moreover, the number of registered mobile money agents reached 896,000, with 411,000 active agents providing financial services across the country. These agents play a vital role in enhancing financial inclusion, especially in rural and underserved communities, where access to traditional banking services remains limited.
Optimistic outlook for Ghana’s Mobile Money industry

The abolition of the E-Levy is expected to drive further growth in mobile money transactions, bolstering Ghana’s fintech landscape. With increasing trust in digital financial platforms and the expanding agent network, mobile money is poised to remain a dominant force in Ghana’s financial sector.

Source: Kweku Zurek ( Graphic online)

The Cyber Security Authority (CSA) has raised alarm over a significant rise in online fraud, with financial losses surging to GH₵4.4 million between January and March 2025. This marks a sharp increase from the GH₵2.4 million recorded during the same period in 2024.

According to the CSA, 350 cases of cyber fraud have been reported so far this year, as scammers exploit digital platforms to target unsuspecting victims.
Festive seasons targeted by cybercriminals.

With ongoing Eid celebrations and the upcoming Easter festivities, the CSA has cautioned the public to remain vigilant against cybercriminals who take advantage of heightened commercial activity during such periods.
The Authority identified three major tactics used by scammers:

• Fake Online Shops: Fraudsters create counterfeit online stores or impersonate legitimate businesses on social media, luring victims with heavily discounted prices. Victims send money but never receive their purchases.
• Brand Impersonation: Scammers manipulate search engine results to display fake business listings, tricking customers into engaging with fraudulent contacts. Once a payment is made, victims are blocked, and the promised goods or services never materialise.
• Phishing Scams: Cybercriminals send deceptive emails or messages posing as businesses, romantic partners, or organisations offering festive deals. Clicking on these links can install malware or steal sensitive personal information.

Public urged to exercise caution

The CSA has advised consumers to take precautionary measures when shopping online:

• Verify Online Retailers: Use reputable e-commerce platforms and check reviews before making purchases.
• Avoid Advance Payments: Only pay after inspecting and receiving the item. Ensure mobile money transactions are made to official business accounts.
• Beware of Too-Good-To-Be-True Deals: Unsolicited messages promising massive discounts could be scams.
• Protect Personal Information: Do not share Ghana Card details, bank account numbers, or credit card information with unknown sources.

The CSA has also urged the public to report suspected cyber fraud incidents via its 24-hour helpline: Call or Text – 292, WhatsApp – 0501603111, or Email – report@csa.gov.gh.

Issued by the Cyber Security Authority on March 28, 2025, the public alert underscores the growing threat of cybercrime in Ghana and the need for heightened awareness during festive seasons.

Source: Kweku Zurek ( Graphic Online)

The International Telecommunication Union (ITU) and the European Commission have launched a broadband mapping project to identify connectivity gaps in Africa.

• The initiative, covering 11 countries, has a €15 million ($16.2 million) budget over four years.
• While it aims to boost broadband access, it remains limited in scope, with no confirmation of future expansion.

The International Telecommunication Union (ITU) has officially launched the implementation of its Africa-BB-Maps project, a broadband mapping initiative designed to bridge connectivity gaps in Africa. Developed in partnership with the European Commission, the project will help governments and policymakers pinpoint underserved areas and plan network expansion accordingly.

The ITU explained that Broadband mapping, combined with modern geographic information systems (GIS) and data-driven decision-making, makes it easier to identify connectivity gaps, extend networks to critical areas, and support evidence-based policy decisions.

The initiative was announced during a regional event on broadband mapping, held on March 26-27, 2025, in Abidjan, Côte d’Ivoire. It follows an initial introduction of the project at the 2024 ITU Global Symposium for Regulators in Kampala, Uganda.

Currently, Africa-BB-Maps covers 11 countries: Côte d’Ivoire, Benin, Botswana, Burundi, Ethiopia, Kenya, Malawi, Nigeria, Zambia, Zimbabwe, and Uganda. The project has been allocated a budget of €15 million ($16.2 million) over four years.

The launch comes as African governments work toward their goal of achieving near-universal broadband access by 2030, as outlined in the African Union’s Digital Transformation Strategy for Africa 2020-2030. Despite these efforts, broadband penetration remains low. According to the GSM Association (GSMA), only 27% of the population in Sub-Saharan Africa—about 320 million people—currently use mobile internet. Of the 870 million people still offline, 160 million live in areas with no broadband coverage at all.

While the Africa-BB-Maps project could accelerate broadband adoption in Africa, it remains limited to a small number of countries on a continent with over 50 nations. So far, neither the ITU nor the European Commission has confirmed whether the initiative will be expanded in the future.

Source: Ecofin Agency

The overlord of the Gonjaland, Yagbonwura Bii-kunuto Jewu Soale I, has commended MTN Ghana for establishing a new regional office in Damongo, describing it as a significant step towards employment creation and rapid development in his kingdom.

According to the King, the presence of MTN in Damongo will greatly alleviate the economic burden on his people and eliminate the need to travel to Tamale and Wa in the Northern and Upper West regions to access MTN services.

In a press release signed by his secretary, Abdul Samed Abdulai, Yagbonwura praised MTN for its swift response to his request for a regional office.

“Indeed, you are a true, loyal, and trusted partner in development. In less than a year since my request, you have fulfilled it. I have no doubt that this will create employment opportunities for the youth and reduce the cost of traveling to other regions for your services,” the King stated.

Yagbonwura assured MTN Ghana of a peaceful and supportive environment for its operations in the region.

He also urged the telecom giant to prioritise local recruitment, emphasising the availability of skilled human resources within the Savannah Region.

“As partners, we have capable human resources here in Savannah, so do not look beyond the region when recruiting workers for your new office,” he appealed.

In a related development, a three-member delegation from MTN Ghana visited Damongo to inspect the site of the new regional office. The delegation included Adwoa Baah, Senior Manager for Retailing in Northern Ghana, and Kwami Aseye Akude, Manager for Retail Experience.

Source: Isaac Nongya (My JoyOnline)

ITU Secretary-General Doreen Bogdan-Martin highlighted the importance of global connectivity, AI governance, and sustainability, emphasizing the need for industry-wide collaboration to tackle pressing digital challenges.

Speaking to Mobile World Live, Bogdan-Martin acknowledged the growing complexity of discussions around connectivity but remained optimistic about progress. “Everyone, whether it’s industry or government, believes in the power of connectivity. So, we’re focused on that goal to connect the unconnected,” she stated.

However, she noted that bridging the digital divide remains a major challenge, with 2.6 billion people remaining in “digital darkness.” The ITU estimates that bridging this connectivity gap will likely require about $1.6 trillion in investment, with a focus on building infrastructure, ensuring affordability, and creating digital skills.

In addition, Bogdan-Martin highlighted AI’s role in climate action, emphasizing that while AI is an “energy-hungry and water-thirsty” technology, it can also help reduce greenhouse gas emissions when implemented effectively. She pointed to the ITU’s efforts in advancing green digital standards and initiatives like the Green Digital Action Coalition launched at COP29, which attracted around 1,000 signatories.

Addressing the digital gender gap, the ITU chief noted that fewer women work in the digital and AI sectors. “We’re pushing to get girls excited about careers in the STEM field,” she said, stressing the need to ensure access to economic opportunities through digital inclusion.

Bogdan-Martin urged a range of stakeholders, including governments, telecom operators, satellite providers, and academic actors, to take collective action, stating that digital access is critical to economic growth and resilience. She pointed to the ITU’s Partner2Connect initiative, which secured $73 billion in commitments towards bridging the connectivity gap and aims to hit $100 billion by next year.

Ultimately, despite the challenges, she stated, “I am optimistic, because we see commitments being made.”

Source: Mobile World Live

Meta Platforms’ long-term Asia-Pacific VP Dan Neary announced his departure from the company, ending a tenure which delivered growth across key markets over a 12-year period, Bloomberg reported.

The news agency stated Neary detailed his plan to leave in a note to staff, with a representative clarifying the decision was for personal reasons.

Neary told Bloomberg he would remain on hand for “a few months”, to help Meta Platforms find and transition to a replacement.

Bloomberg reported Neary took on the VP post in 2013 and oversaw “rapid” growth of Meta Platforms’ businesses in key nations including Australia, China and elsewhere in Southeast Asia.

Figures provided to Bloomberg by Simon Kemp, chief analyst with research report depository DataReportal, showed Asia-Pacific now contributes more to Meta Platforms’ title Facebook’s global advertising reach than when Neary joined.

Earlier this week, Neary took to social media to highlight Meta Platforms’ latest AI products to match brands with content creators, Bloomberg noted.

Source: Mobile World

Nairobi — Despite geopolitical and trade tensions, Kenyan CEOs remain optimistic about economic growth, with 60 percent expecting global improvement and 48 percent expressing confidence in the local economy, according to PwC’s 2025 CEO Survey released today.

While optimism prevails, business leaders cite inflation (35 percent), macroeconomic volatility (28 percent), geopolitical conflicts (25 percent), and cyber risks (25 percent) as key concerns.

Still, 65 percent believe their businesses will thrive for over a decade, driven by strategic reinvention, AI adoption, and sustainability investments.

Kenyan CEOs are actively integrating AI to boost efficiency and decision-making. The survey reveals that 50 percent trust AI in key processes and 50 percent expect AI integration in tech platforms, among others.

From automating tasks to improving customer experiences, AI is a major pillar of future business strategy.

To adapt to evolving market conditions, CEOs are developing new products (48 percent), targeting new customer bases (43 percent) and exploring alternative market channels (43 percent).

Sustainability is becoming a business priority, with 42 percent reporting increased revenue from climate-friendly investments and 26 percent citing cost reductions from sustainability measures

However, 50 percent of CEOs have yet to invest in climate-friendly initiatives, citing regulatory hurdles (33 percent), low external demand (23 percent), and financing challenges (23 percent).

PwC Eastern Africa’s Regional Senior Partner Peter Ngahu emphasized the need for reinvention and climate adaptation, stating:

“Kenyan CEOs are focused on innovation to remain competitive, but climate change is posing serious challenges to agriculture, food security, and livelihoods. Coordinated efforts in adaptation and mitigation strategies are crucial for resilience.”

Source: Extensia