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BoM Received Over 300 Complaints Against Several Banks in Second Half of 2022

BoM Received Over 300 Complaints Against Several Banks in Second Half of 2022

The Banco de Moçambique (BdM) said in a statement that it had received, in the second half of 2022, 337 complaints from customers of several banks, micro-banks and electronic money institutions, noting that most of them were related to issues of credit, service, foreign exchange operations and operation of ATMs.

Without providing many details about the issues raised by customers, the BdM said that of the total number of complaints, 106 referred to Millennium bim and 52 to Banco Comercial e de Investimento (BCI), which are at the top of the list, which is natural, given that these are the two biggest national banks in number of branches and customers.

“The remaining complaints fall 21 on Letshego, 20 on Standard Bank, 15 on Absa Bank, 15 also on Access Bank, 12 on Moza Banco, ten on First National Bank (FNB), three on Ecobank and two on United Bank for Africa (UBA) and Nedbank,” he added.

In micro-banks, the highlight is 39 complaints against Bayport, 17 against Mybucks and five against Rónica.

As for electronic money institutions, six complaints were made against M-Pesa, three against e-Mola and one against Mobile Wallet.

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