The use of electronic money in the country now covers 74.6% of the population, according to data presented this Wednesday, 20th September, in Maputo, during the first edition of M-pesa Fintalks.
At the event, held to mark the 10th anniversary in the country of Vodacom’s mobile wallet service, M-pesa, the CEO of FSD Moçambique (Financial Sector Deepening Mozambique) said, based on the first quarter report from the Bank of Mozambique (BdM), that only 29.8 per cent of the population has bank accounts. For this reason, “electronic money institutions are contributing to greater financial inclusion, since 74.6 per cent of the population uses this modality”.
However, for Esselina Macome, despite this data showing a certain evolution, financial inclusion may not be realised in terms of gender, since there is a possibility that men represent the largest number of users compared to women. “I’m inviting institutions to start analysing the data in terms of gender, as this would contribute to Sustainable Development Goal 5, which concerns gender equality,” added the CEO.
The event, attended by various organisations, sought to discuss how financial inclusion can be achieved at national level and through digital platforms.
In his opening speech, the general manager of Vodacom M-pesa in Mozambique assured that “this is a conference that aims to strengthen the digital ecosystem, capable of facing the challenges of digital financial inclusion in the country and in the world. We are here today to renew our commitment to our customers and partners, but with a greater purpose of financial inclusion,” emphasised Sérgio Gomes.
With around six million customers and more than 54,000 agents throughout the country, M-Pesa is the largest mobile financial service in Mozambique and allows users to deposit money, make payments, transfers, withdrawals and access savings and credit solutions, among other commercial transactions.
