Agents of Electronic Money Institutions (EMIs) increased across the country last year, outpacing traditional banking agents, with their coverage growing by approximately 40%.
According to the Annual Report of the Bank of Mozambique (BdM), the number of agents rose from 2,365 in 2023 to 3,941 in the following year.
The report also notes growth in the use of POS (Point of Sale) terminals, whose coverage increased by 17% during that year, reaching 444.3 units per 10,000 km², compared to 3,687 POS terminals in 2023.
During the same period, the coverage of banking agents saw little variation. “In 2024, coverage per 10,000 km² was 12.8 banking agents, compared to 12.5 banking agents the previous year — an increase of three agents. A similar trend occurred with bank branches. In 2024, bank branch coverage stood at 9.2 per 10,000 km², compared to 9.1 the year before,” the report reads.
Additionally, the document highlights again the expansion of EMI agents and POS terminals, which grew by 35% and 17% respectively compared to the previous year, reaching 1,686 agents and 190 POS terminals per 100,000 adults. In contrast, coverage of ATMs, banking agents, and bank branches remained largely unchanged.
Source: MZ News
