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Moza Banco Advocates Greater Involvement of Smallholder Farmers to Achieve Financial Inclusion Goals

Moza Banco Advocates Greater Involvement of Smallholder Farmers to Achieve Financial Inclusion Goals

Moza Banco recently took part in the first edition of Mozambique Banking, Financial, Services & Insurance, a conference that discussed problems and solutions for the Banking and Insurance sector in Mozambique.

On the occasion, the Institutional and Protocols Director, Octávio Mutemba, defended the strengthening of actions to engage and involve small rural farmers as the key to the success of the financial inclusion process in the country.

Octávio Mutemba, quoted in the financial institution’s statement, made public this Thursday, September 21, said that this social group is the main vector of the economy in remote areas, which is why banks need to be ever closer to farmers, offering solutions that suit their needs.

The source, who was part of the panel discussion on “Financial Inclusion as a Driver of Economic Development and Improved Quality of Life”, took the opportunity to point out that Moza is the bank with the largest number of branches in the country’s rural regions, as part of the government’s “One District, One Bank” initiative, in which banking institutions are invited to expand their services outside urban areas.

Data from the Informal Sector Survey (National Statistics Institute – 2021) indicates that economic activities in this sector are carried out by more than 13 million people (85% of the total working population), 75% of whom are in the agricultural sector.

“The commitment to engaging rural communities, with a particular focus on farmers, makes Moza a bank that, more than providing financial services to the population, also plays a valuable civic role, educating communities about the need to save, invest and store their money safely,” said the Institutional and Protocols director, adding that Moza will continue to see farmers as a valid business agent.

According to Octávio Mutemba, one of the strategies Moza Banco has come up with to make rural communities aware of the need to open a bank account is called “Conta com o Moza”, – a radio program produced and broadcast in local languages to further improve understanding of the importance of financial inclusion.

“With this program, we looked for references in the context of each community to explain, in their own language, the relevance of banking services. We make citizens understand that Moza is a partner that can support their development, enabling them to achieve their dreams and goals,” he said.

Moza is one of the country’s “agricultural banks”, directly promoting various crops for domestic consumption and export. And to cover even more of the agricultural sector, it extends its coverage to livestock, financing the production and breeding of cattle and sheep and investing in poultry.

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