The Bank of Mozambique has ordered commercial banks and mobile wallet operators to refund 73.2 million meticais charged unlawfully to customers through commissions and fees, according to a customer complaints report released by the central bank and cited by the newspaper O País.
Between January and June 2026, the Bank of Mozambique received 487 complaints from users of financial services, drawn from a customer base of more than 32 million, prompting the regulator to take enforcement action against the institutions concerned.
Bank loans accounted for 43% of complaints, primarily related to disputes over contract compliance and unilateral changes to repayment terms. Bank accounts represented 24% of all complaints received.
Within the bank accounts category, approximately 90% of cases involved funds withdrawn from accounts by banks or mobile wallet operators without explanation or customer authorisation. ATM-related complaints accounted for 13% of the total, with the most common issue being account debits where cash was not actually dispensed.
Among the major banks — classified by the Bank of Mozambique as institutions with more than one million customers — BCI recorded the highest number of complaints, with 156 cases, followed by Millennium bim with 81.
To address the complaints and strengthen consumer protection, the Bank of Mozambique held working meetings with the management of the institutions involved and conducted on-site inspections.
The regulator stated that it will continue to monitor the conduct of financial institutions to ensure compliance with regulations and the protection of customer rights.
Although complaints represent a small fraction of the total customer base, they point to systemic issues, particularly in credit contracts, unauthorised account movements, and ATM operations.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=535622
