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MobileMoney LTD, the fintech subsidiary of Scancom PLC, has reported significant expansion across its mobile money ecosystem, with the value of funds held in customer wallets—commonly referred to as MoMo float—surging by 60.9% to GH¢38.4 billion, up from GH¢23.9 billion in 2024.
The substantial increase reflects growing confidence among users who are increasingly relying on mobile wallets not only for transactions but also as a reliable store of value in Ghana’s rapidly evolving digital payments environment.
The company also posted strong revenue growth, with earnings rising by 35.7% year-on-year to GH¢6 billion in 2025, compared with GH¢4.4 billion recorded in the previous year. This growth was largely driven by higher adoption rates and increasing dependence on digital financial services.
Active mobile money users climbed by 12.3% to reach 19.3 million in 2025, up from 17.2 million in 2024, reinforcing mobile money’s position as the most widely used financial service platform in the country.
Industry observers say the trend reflects a broader transformation within Ghana’s financial system, where mobile-based payment platforms are increasingly dominating everyday transactions and outpacing traditional banking channels in transaction volumes.
Transaction activity continues to expand
Mobile money activity within the ecosystem also grew significantly during the period. Total transaction volume increased by 18.4%, rising from 7.1 billion transactions in 2024 to 8.4 billion transactions in 2025.
The value of these transactions expanded even more sharply, climbing by 53.8% from GH¢2.7 trillion in 2024 to GH¢4.1 trillion in 2025.
According to data from the Bank of Ghana, mobile money has become the backbone of retail financial transactions across the country, supporting payments, transfers and other everyday financial activities.
Payments and fintech services drive earnings
A breakdown of the company’s revenue sources shows changing usage patterns among customers.
Revenue from basic services such as withdrawals and transfers grew by 27.2% year-on-year, largely supported by increased transfer activity following the removal of the electronic transfer levy.
However, the fastest growth came from advanced services including digital payments, merchant services and mobile lending. Revenue from these offerings jumped by 55.9% to GH¢2 billion, reflecting stronger adoption of integrated fintech solutions within the mobile money ecosystem.
Despite the strong growth, mobile money’s share of overall service revenue recorded a slight decline from 24.9% in 2024 to 24.8% in 2025, indicating expansion in other telecom service segments.
The composition of mobile money revenue also shifted. Withdrawals accounted for a smaller share, declining from 51.2% in 2024 to 45.6% in 2025. Meanwhile, peer-to-peer transfers increased their contribution from 28.9% to 33.7%, while advanced services rose from 19.4% to 20.7%.
Analysts say this trend indicates that Ghana’s mobile money market is maturing, with users increasingly conducting payments, business transactions and borrowing directly through digital wallets rather than relying primarily on cash withdrawals.
Mobile money surpasses digital banking
The scale of mobile money transactions now far exceeds activity within the traditional banking sector’s digital platforms. In comparison, transactions within the conventional banking system remain significantly smaller than the GH¢4.1 trillion processed through the mobile money ecosystem in 2025.
Financial analysts attribute this dominance to the accessibility of mobile money platforms, which leverage extensive agent networks, USSD technology and mobile phone penetration to deliver financial services to millions of users, including those without formal bank accounts.
This accessibility has made mobile money the preferred platform for everyday financial activities such as transfers, merchant payments, bill settlements and microloans.
Strong financial performance
The company’s operational success translated into improved profitability, with a Return on Assets (ROA) of 12.5%, reflecting efficient utilisation of its asset base.
Earnings per share (EPS) also increased significantly, rising to GH¢0.592, representing growth of 55.8% and underscoring the increasing profitability of the fintech business.
Analysts note that mobile money platforms typically operate with leaner infrastructure compared to traditional banks, enabling them to generate strong returns while serving large customer bases.
Regulatory restructuring underway
Meanwhile, structural changes are being implemented within the business to meet regulatory requirements.
Following shareholder approval in December 2025, the merger between MobileMoney Limited and MobileMoney Fintech Limited is currently progressing.
The restructuring is being carried out by Scancom PLC as part of the structural separation of its fintech operations in compliance with the Payment Systems and Services Act, 2019 (Act 987).
The move is intended to meet localisation requirements and enhance regulatory oversight of Ghana’s rapidly growing digital payments industry. The merger will take effect once all necessary regulatory approvals are secured.
Digital finance transforming the financial landscape
With 19.3 million active users, 8.4 billion transactions annually and GH¢4.1 trillion in transaction value, mobile money platforms are increasingly reshaping how individuals and businesses in Ghana access and use financial services.
