Internet and Mobile Banking Users Surge in 2023 – BoG Report.
The Bank of Ghana's 2023 Financial Stability Review reveals a notable rise in internet and mobile banking adoption. Internet banking users grew by 16.6%, reaching over 1.3 million in 2023. The volume of internet banking transactions increased by 30.65%, totaling 13.5 million transactions valued at GH₵98.87 billion. Mobile banking saw even higher growth, with a 51.54% jump to over 7.2 million users, and transaction values doubling from GH₵38.47 billion in 2022 to GH₵80.4 billion in 2023.Amid this growth, the Bank of Ghana strengthened oversight of the payments ecosystem to address risks such as fraud and cybersecurity threats. Enhanced collaboration with security agencies and public awareness efforts were key strategies to foster secure digital transactions.
