CTA criticises Bank of Mozambique for rising reserve requirement ratio in foreign currency
File photo: Notícias
The proportion of districts in Mozambique with bank branches has risen from 55% to 70% over the past three years, the minister for earth, environment and rural development, Celso Correia, said on Wednesday.
In 2018, out of a total of 154 districts in the country, 107 had bank branches as part of the government’s policy “One District, One Bank” developed in partnership with banks.
The ministry’s National Fund of Sustainable Development signed an agreement on Wednesday with Millenium bim to open 12 more bank branches in Mozambique.
Correia said during the signing of the agreement that a decisive step had been taken to implement this “big objective.”
The government aims for all the country’s districts to have bank branches by next year.Source: Lusa
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