Mozambique has 23 million users of electronic money accounts

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Mozambique has 23 million users of electronic money accounts

1:32 CAT | 12 Nov 2025

FILE - For illustration purposes only. [File photo: Lusa]

The Bank of Mozambique, in its role as regulator of the national financial system, has announced that the number of electronic money accounts users has increased significantly, from 11.9 million in December 2022 to 23 million in June 2025.

According to the governor of the Bank of Mozambique, Rogério Zandamela, who was speaking at the 50th Advisory Council of the Central Bank in Pemba city, Northern Province of Cabo Delgado, it means that there has been progress in financial inclusion.

“It results from the modernization of the National Payment System, particularly regarding the interoperability between digital payment platforms and commercial banks, as well as the strengthening of financial education and consumer protection”, he said.

“There is a rapid expansion of digital financial services and their increasing integration into the daily lives of Mozambican families”, he added.

According to Zandamela, since January 2024, the monetary policy interest rate, the MIMO rate, has been reduced cumulatively by 750 basis points, to 9.75 percent in September 2025, the lowest level since its introduction in 2017.

“In line with this evolution, the Prime Rate, the benchmark interest rate of commercial banks in their relationship with their clients, fell by 470 basis points to 16.50 percent in September of this year, reflecting the positive response of the financial system to monetary policy decisions and the consequent gradual improvement in financing conditions for the economy”, he said.

He also revealed that the credit to the economy registered an annual recovery of about 1 percent in September 2025, after zero growth of 0% observed in the same period of the previous year.

“The macroeconomic picture is marked by continued price stability, in a context of gradual recovery of economic activity, despite a 3.1 percent increase in the current account deficit in transactions with the rest of the world in the first half of this year, compared to the same period in 2024”, he said.

“Even so, considering data up to the end of October, our gross international reserves remain at comfortable levels, an important sign of resilience in the face of external shocks, and a true shield protecting national sovereignty”, he added.

Source: AIM