Ghana Mobile Money Market Share, Trends, Regional Analysis and Forecast 2022-2027

According to the latest report by IMARC Group, titled "Ghana Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027". The Ghana mobile money market reached a value of US$ 92 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 494 Billion by 2027, exhibiting a CAGR of 32.5% during 2022-2027.

Mobile Money is a digital technology that allows to store, send, and receive cash using different accounts or phone numbers linked with smartphones. It is an unaffiliated privately owned facility that is mainly operated by mobile money operators. Currently, mobile money employs various wireless technologies, such as quick response (QR) code scanning, near-field communication (NFC), and SMS-based transactional payment methods. These methods allow instant transactions, reduce fraudulent activities, including corruption or data breaching and provide pecuniary services. Consequently, mobile money is used to perform person-to-person (P2P) and business-to-business (B2B) transactions.

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Ghana Mobile Money Market Trends:

The Ghana mobile money market is primarily driven by the increasing need for secured online payment applications that can help with cash transactions, top-ups, bill payments, ticketing, and purchasing goods. Additionally, the rising penetration of high-speed internet connectivity, expansion in the mobile money agent network, and the extensive uptake of mobile devices are favoring the market growth. Moreover, the introduction of EMI (electronic money issuers) guidelines and mobile money interoperability for enhancing the efficiency and accessibility of money transfers through various applications are propelling the market growth. Furthermore, the implementation of favorable regulations by the Ghana government to promote the usage of mobile money systems to eliminate the risks of money laundering and theft is propelling the market growth. Other factors, such as rapid digitization, steadfast advancements in the banking, financial services, and insurance (BFSI) sector, and the integration of artificial intelligence (AI) and big data solutions, are supporting the market growth.

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

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Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Browse More Related Reports:

Uganda Mobile Money Market: https://bit.ly/3C9jU4P

Kenya Mobile Money Market: https://bit.ly/3Lz7S8g

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IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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This release was published on openPR.