Ghana’s mobile money ecosystem recorded a significant rise in transactional activity in April 2025, with the total value of transactions reaching a record GHC 365.0 billion, according to the latest summary of economic and financial data published by the Bank of Ghana.

This represents a month-on-month increase of 3.8% from GHC 351.7 billion recorded in March 2025. It also marks the highest monthly value since the beginning of the year, underscoring the growing reliance on mobile financial services for both personal and business transactions.

In tandem with the value surge, the number of mobile money transactions also rose, climbing from 764 million in March to 778 million in April. The continued expansion highlights mobile money’s pivotal role in promoting financial inclusion and streamlining digital payments nationwide.

The data further indicates a steady increase in mobile money usage, driven by rising mobile penetration, agent network growth, and the convenience of mobile-based financial platforms.

Analysts expect the trajectory to continue upward as Ghana’s digital economy deepens, and regulatory support remains favourable.

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Ghana’s total public debt stock has inched up marginally to $49.5 billion as of March 2025, according to the latest data from the Bank of Ghana.

This is a slight uptick from $49.4 in February 2025. The marginal increase comes despite the local currency’s strong appreciation against the US dollar.

In cedi terms, the debt stood at GH₵769.4 billion, up from GH¢768.1 billion, and represents 55% of Gross Domestic Product (GDP).

READ ALSO: Ghanaians Celebrate as Cedi Appreciates to GH¢11 Against the US Dollar

The external component of the debt stock also rose from GH¢440.1 billion ($28.3bn) to GH¢442.5 billion ($28.5bn).

Notably, there was a decrease in the domestic component of the debt stock, falling from GH¢328 billion to GH¢326.9 billion, which could be because of the government’s mixed appetite for treasury bill issuances.

The contribution of both the external debt and domestic debt to GDP was 31.6% and 23.4% respectively.

The local currency surged to its strongest performance against its major trading currencies – an impressive turnaround from the sharp depreciation trends seen in recent years and marks an all-time high in percentage terms.

READ ALSO: ‘We’ll see data prices drop’ – Communications Minister promises Ghanaians

It has appreciated by 24.1% against the US dollar, 16.2% against the British Pound and 14.1% against the Euro according to the latest data by the Bank of Ghana.

Per the May 2025 Summary of Economic and Financial Data, the cedi is currently trading at around GH₵11.85 to the dollar – GH₵15.84 to the British Pound and GH₵ 13.34 to the Euro.

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The Chief Executive Officer of the Swift Petrotrade Group, Prince Ellis Antsroe, has indicated that the cedi could trade at GH₵8 to a dollar if the United States of America lifts its sanctions on Iran.

He explained that a sanction relief could see global crude oil prices likely crashing further to as low as $40 or even lower per barrel.

Speaking to Myjoyonline.com, he said that this anticipated development will boost the confidence of commodity investors in safe-haven assets such as gold, which will increase.

“This could send the gold prices to the $3,500 per ounce range or even better. In other words, 1 kg of gold could be sold at around $123,500, as 1kg is made up of about 35.274 ounces,” he explained. 

READ ALSO: Ghanaians Celebrate as Cedi Appreciates to GH¢11 Against the US Dollar

He further said that strong global demand for gold at extremely high prices will see an enormous inflow of US dollars into Ghana, as it is currently exporting substantial quantities of the commodity.

“If this happens, while Ghana’s imports remain at similar levels, the cedi could continue its rally against the dollar to regions of GH₵8 to a dollar and remain fairly stable so long as the prices of the commodities under consideration remain in similar ranges,” he said. 

He further added that “while Ghanaians may have their fingers crossed to see the US lift the sanctions on Iran to trigger low oil prices and its subsequent higher gold prices, US intelligence suggests that Israel is preparing to strike Iranian nuclear facilities, according to CNN. It is not clear yet whether the Israeli leaders have made a final decision.”

However, Mr. Antsroe expressed optimism that any attack by Israel on Iran would hinder the ongoing negotiations between the US and the Middle East.

He said this would increase the volatility that is already prevalent in the region that supplies one-third of the global oil and, by extension, lead to higher oil prices over a period.

“While the oil prices go up, there may be expectations that the gold prices may begin to decline; however, due to general uncertainties as a result of the geopolitical factors, the gold prices may not fall as much as the experts could predict.”

“We may see a bit of undulating curves in the performance of gold prices, but that may not be strong enough to break the Ghanaian Cedi. A colossal look at the scenarios can perfectly make me ask myself if the success of Ghana is dependent on the happenings in the rest of the world,” he noted.

myjoyonline.com