Credit granted by the national banking sector to businesses and consumers recorded cumulative growth of 17% between 2017 and 2023, reaching 269.4 billion meticais – about 3.63 billion dollars – according to the report on the National Financial Inclusion Strategy (ENIF) 2025-2031, released this Friday, 22 August, by the Ministry of Finance and cited by the news agency Lusa.
The Government considers that this increase signals a “possible expansion of economic activity”, reflecting a positive development in access to credit. This performance is attributed to improved macroeconomic conditions and the application of public policies aimed at stimulating financing.
In 2017, the total amount of credit was 230.4 billion meticais (3.10 billion dollars), which means that, over six years, the Mozambican economy absorbed an additional 39 billion meticais – equivalent to 526 million dollars – in new credit, distributed through formal and informal channels. Besides banks, microbanks, credit cooperatives, microcredit operators, investment companies, rotating savings groups and family loans stand out as relevant sources.
Despite the growth recorded, access to credit remains limited. In 2023, only 9.7% of adults held a credit account, although the figure has almost doubled from the 5.1% recorded in 2015. The gender gap remains evident: 5.6% of women have credit, compared with 12.2% of men. This reality has led the Government to acknowledge the need to design financial products that meet gender-specific needs.
The new ENIF 2025-2031 is structured around four essential pillars: broadening access to financial services and products, promoting the use of quality services, fostering financial literacy and strengthening consumer protection, ensuring greater confidence in the system.
According to the report, financial inclusion is seen as a driver of socioeconomic development, more than simple access to services: “It aims to empower individuals and businesses, improve livelihoods, strengthen resilience and ensure full participation in the economy”, the document states.
Among the benefits highlighted are the promotion of entrepreneurship and the stimulation of saving and investment – factors crucial to economic and social well-being. The strategy was built on the basis of extensive consultations among the Government, the financial sector, public and private bodies, and development partners.
