The Number: 19.3 million
Active MoMo users as of March 2026. Up 12.3% year-on-year. MoMo revenue reached GHS 6 billion, a 35.7% increase. Advance services, including MoMo loans and related credit products, generated GHS 2.0 billion, up 55.9%.
The user growth rate of 12.3% on a base of 17.2 million is significant because it came during a period when many assumed mobile money had already saturated the addressable market. Adding 2.1 million active users in twelve months suggests that either new demographics are entering the system or previously dormant accounts are reactivating.
Revenue growth of 35.7% outpacing user growth of 12.3% means revenue per user is increasing. Users are transacting more frequently, at higher values, or engaging with higher-margin services like advances. Likely all three.
The advance services figure is the most consequential line in the data. GHS 2.0 billion, up 55.9%, shows that MoMo is no longer just a payments platform. It is a lending channel. The growth rate in advances nearly doubles the growth rate of overall revenue, which means credit is becoming a larger share of the revenue mix.
This has direct implications for the newly separated MobileMoney Fintech Ltd. A company where the fastest-growing revenue line is credit products is a different beast from a transaction processing utility. It requires credit risk management capabilities, provisioning discipline, and regulatory engagement that goes well beyond payments.
For the broader economy, 19.3 million active users means roughly one in every two adults is using mobile money at least once in a 90-day window. At GHS 6 billion in revenue, the platform extracts more fees from the economy than most banks earn in net interest income.
The 55.9% growth in advances is the number to watch over the next year. If it holds, MoMo's identity as a credit provider will overtake its identity as a payments network.
