The concept of banking in Ghana has gained gradual popularity over the years. There has been tremendous
in the country since 2013, reflecting the projected 78 percent penetration rate by 2028. In fact, as of 2022, close to half of Ghana's population had an
. This way, account holders can benefit from the
provided by these institutions, including online banking and debit or credit card ownership. In 2024, the nation's
penetration was forecast at around 0.6 percent and 17.8 percent, respectively. Indeed, the coronavirus (COVID-19) pandemic affected banking institutions in Ghana such that over 30 percent of them considered that they would
Banking access favors urban inhabitants the most
There is a large rural-urban financial facility availability gap in Ghana. According to the latest data available,
physical banks were available to nearly 51 percent of the country's urban population, while the share for rural communities was as low as 3.3 percent. Similarly, urban residences were the
closest to banks compared to rural dwellings. This indicated that it was more likely for people living in a city to find a banking institution within two kilometers of their home than those in smaller towns or villages. As of January 2023, there were 147 registered
rural and community banks in Ghana. This notwithstanding, increasing the availability and accessibility of banks in rural communities is needed to bridge the gap with urban areas. Moreover, a large-scale provision of ATMs could facilitate access to banking transactions. Nationwide, an estimated 2,800
ATMs were available to users as of 2024.
Mobile and online banking are increasingly being patronized
The use of online and mobile banking has become more common in Ghana in recent years. For instance,
online banking penetration was forecast to reach around 12.5 percent in 2024. By comparison, the rate stood at slightly over one percent in 2014 and is expected to reach nearly 20.1 percent in 2029. This reflects an accelerated growth in online banking. In the same way, subscriptions to mobile banking have risen since 2012. Additionally, as of the first half of 2019, the number of
registered mobile money accounts in Ghana amounted to over 31 million. Compared to 2012, when there were around four million mobile money registered accounts, it is evident that mobile banking has become a mainstay in Ghana. As of 2024, close to 60 percent of the country's population
had a mobile money account. Generally, digital payment transactions in Ghana are performed using channels such as e-money. The country's active e-money
customer base and
operating agents increased between February 2021 and February 2022. Overall, an estimated
digital payment transaction value of approximately 7.5 billion U.S. dollars was registered in 2024.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
