Mozambique: Largest reserve needs €7.7M a year for management, maintenance
Mozambique: Average daily ATM withdrawals top €9 million
12:12 CAT | 06 Oct 2023
FILE - For illustration purposes only. [File photo: Associação Moçambicana de Bancos]
Bank customers in Mozambique withdrew an average of more than 605 million meticais (€9 million) per day from automated teller machines in the country in the first eight months of this year, according to data from the Bank of Mozambique that Lusa has seen.
According to a statistical report released today by the central bank, from January 1st to August 31st of this year, more than 147,143 million meticais (€2,190 million) was withdrawn from almost 1,500 automated teller machines (ATMs).
The highest number of withdrawals (7,573,096 operations) was recorded in March, with ATMs delivering 22,167 million meticais (€330 million) to customers.
In August, this number fell to 4,605,553 withdrawals, for a total amount of 14,487 million meticais (€215.7 million).
More than 30 Mozambican adults out of every 100 have a bank account, an increase of 26% in the space of 10 years, a period in which the ratio of bank branches across the country practically stagnated, according to data from the Bank of Mozambique reported by Lusa at the end of August.
According to a central bank statistical report, last June the country’s commercial banks had the equivalent of 30.1 bank accounts for every 100 adults, compared to 23.9 in 2013. The highest ratio was reached in June 2017, with 36.2 bank accounts for every 100 adults.
The number of bank branches, according to the same data, remained practically unchanged between 2013, then 4.0 per 100 adults, and the end of the first half of this year (3.9).
Bank cards issued in Mozambique increased in the same 10-year period from 23.8 per 100 adults in 2013 to 18.4 last June.
There are 15 commercial banks and 12 micro-banks operating in Mozambique, as well as a number of credit cooperatives and savings organisations.
Source: Lusa
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