Agents and MFIs In the first quarter of 2025, the Bank of Mozambique (BdM) reported a significant improvement in the geographic coverage of financial services, largely driven by the expansion of banking agents and Microfinance Institutions (MFIs).
While the number of traditional bank branches remained stable at 9 per 10,000 km²—slightly declining from previous periods—the increase in financial access points offset this trend and continued to promote inclusion across underserved regions.
As of March 2025, Mozambique had 13 banking agents per 10,000 km², with 3 agents operating in urban centres and 5 in rural areas. MFI agents grew to an impressive 3,941 per 10,000 km², reinforcing their vital role in reaching remote communities and strengthening the financial inclusion agenda.
Bank account penetration per area rose by 1.45%, from 77,068 to 78,189 accounts per 10,000 km². Of these, 26,115 accounts were held by women and 49,238 by men. The MFI sector recorded an even stronger growth rate of 2.65%, increasing total accounts from 259,000 to 265,890—with women holding 122,036 accounts and men 143,693. Card usage also surged, with the number of active bank cards rising by 5.02%, from 39,404 to 41,382 per 10,000 km². The vast majority were debit cards (38,529), indicating a reliance on essential payment services, particularly in areas with low formal banking penetration.
BdM noted that while the progress is encouraging, challenges remain—particularly in reducing gender disparities and improving service delivery in isolated areas. The central bank reaffirmed its commitment to supporting MFIs, boosting financial literacy, and ensuring inclusive access to financial services as core pillars of Mozambique’s financial development strategy.
Source: Further Africa
