Cheque usage in Ghana continued its downward trend in February 2026, with declines recorded in both transaction value and volume, according to the Bank of Ghana’s March Summary of Economic Data.
The total value of cheques cleared fell to GHS 31.8 billion in February 2026, down from GHS 33.2 billion in February 2025. Similarly, the number of cheques processed declined to 388,000, compared to 428,000 in the same period last year.
This sustained year-on-year drop highlights the gradual weakening of cheque-based transactions within Ghana’s financial system.
On a month-on-month basis, cheque values also dipped from GHS 33.6 billion in January 2026 to GHS 31.8 billion in February 2026, indicating reduced transaction sizes.
However, volumes recorded a slight increase, rising from 368,000 in January to 388,000 in February, suggesting some short-term recovery in usage.
Despite this marginal rebound in volumes, the broader trajectory remains downward.
Cheque activity had surged at the end of 2025, with values reaching GHS 37.3 billion in December and volumes peaking at 462,000, largely driven by seasonal corporate transactions and year-end settlements.
The latest data reinforces a structural shift in payment behaviour, where cheques are steadily being edged out.
Their use is increasingly concentrated in corporate and high-value transactions, while overall reliance continues to decline.
This trend raises important considerations for banks and policymakers, particularly around the cost of maintaining cheque processing systems in an era where transaction volumes are gradually shrinking.
