MobileMoney Limited (MML), the fintech arm of Scancom PLC, has recorded another strong year of growth, underscoring the accelerating shift toward mobile‑led financial services in Ghana’s payments ecosystem.
The value of funds held in customer wallets, commonly referred to as MoMo float, rose by 60.9 percent year‑on‑year to GH¢38.4 billion in 2025, compared with GH¢23.9 billion a year earlier.
The sharp increase reflects growing consumer confidence in mobile wallets as both a transactional and savings medium.
Revenue from the mobile money business expanded by 35.7 percent to GH¢6.0 billion, up from GH¢4.4 billion in 2024, driven by user growth, higher transaction volumes and increased uptake of digital financial services.
Active mobile money users climbed by 12.3 percent to 19.3 million, consolidating MML’s position at the centre of Ghana’s digital finance landscape.
Operational data shows that activity across the MoMo ecosystem continued to scale rapidly. Total transaction volumes increased by 18.4 percent to 8.4 billion transactions in 2025, while transaction values surged by 53.8 percent to GH¢4.1 trillion, up from GH¢2.7 trillion in the previous year.
The widening gap between mobile money and traditional banking platforms highlights the structural shift underway in Ghana’s financial system, where mobile network‑led fintechs now dominate retail payments, merchant transactions and peer‑to‑peer transfers.
Analysts say mobile money’s dominance is being driven by its accessibility, extensive agent network and ability to reach underserved and unbanked segments, giving it a competitive advantage over conventional banking channels.
A breakdown of revenue sources points to a changing usage pattern among customers.
Revenue from basic services, including cash withdrawals and transfers, rose by 27.2 percent, supported in part by increased transfer activity following the removal of the electronic transfer levy (E‑levy).
However, the strongest growth came from advanced services such as digital payments, merchant services and mobile lending. Revenue from this segment surged by 55.9 percent to GH¢2.0 billion, reflecting deeper integration of fintech solutions into everyday commerce.
Withdrawals continued to decline as a share of total revenue, falling from 51.2 percent in 2024 to 45.6 percent in 2025. In contrast, peer‑to‑peer transfers increased their contribution from 28.9 percent to 33.7 percent, while advanced services rose to 20.7 percent.
The shift signals a maturing mobile money market, where digital wallets are increasingly used for payments, business transactions and credit access rather than primarily for cash‑out purposes.
MML’s strong operational performance translated into improved profitability. The company recorded a return on assets (ROA) of 12.5 percent, while earnings per share rose by 55.8 percent to GH¢0.592.
Industry observers note that mobile money platforms benefit from relatively lean infrastructure compared with traditional banks, enabling them to generate attractive returns while scaling rapidly.
Meanwhile, structural changes are underway within Scancom PLC’s fintech operations. Following shareholder approval in December 2025, a merger between MobileMoney Limited and MobileMoney Fintech Limited is progressing in line with Ghana’s Payment Systems and Services Act, 2019 (Act 987).
The restructuring aims to strengthen regulatory oversight, meet localisation requirements and position the business for sustained growth within Ghana’s evolving digital finance framework.
With nearly 20 million active users, over 8 billion annual transactions and transaction values exceeding GH¢4 trillion, mobile money continues to redefine financial inclusion and digital commerce in Ghana, reinforcing its role as a key driver of the country’s fintech‑led economic transformation.
