According to the newspaper O País, the number of electronic money accounts in Mozambique continued its growth trend, reaching 99 accounts per 100 adults in the third quarter of 2024, up from the 95 accounts per 100 adults recorded in the previous quarter. This increase reflects the impact of customer recruitment campaigns run by financial institutions, combined with the simplification of the requirements for opening accounts.
As for traditional bank accounts, the Bank of Mozambique notes that 30.9 in every 100 adults held at least one bank account between July and September, a decrease from the 32.5 per 100 adults recorded in the previous quarter.
The use of bank cards also fell, from 19 to 17 cards per 100 adults over the same period. The decrease is explained by the discontinuation of some card lines, the report says.
Another relevant finding is the growth in access to financial services. In the period analysed, there was a positive change of 47% in the number of access points to financial services compared with the previous quarter. This increase was driven by the sharp growth in electronic money agents, whose number grew 60% between June and September 2024, allowing greater coverage in urban and rural areas.
“The increase in electronic money accounts and agents strengthens financial inclusion, providing more equitable access to financial services, especially in areas previously without them”, says the Bank of Mozambique.
The expansion shows significant efforts to reduce barriers to financial access, promoting broader and more balanced economic integration in all regions of the country.
