Now Reading
E&M Magazine: ‘There is a Lack of Both Internet Access and Technological Infrastructure’

E&M Magazine: ‘There is a Lack of Both Internet Access and Technological Infrastructure’

BCI guarantees that it is following the computerisation process in order to provide more comprehensive services. But the country lacks infrastructure, says the bank’s digital channels director, Arafat Bique.

The latest reports on financial inclusion show a slowdown in the number of new branches and a drop in payment terminals, which means that financial institutions are increasingly committed to digitalisation. How are they doing it?

Financial inclusion is a dynamic process, involving access to and effective use of products and services by the population, improving the quality of life and well-being of communities. Another essential pillar is the strengthening of infrastructures, with the aim of guaranteeing the security and efficiency of the national payment system, which includes the new interoperability platform in Mozambique. This effort aims to overcome geographical and social barriers that historically limited banking, especially in rural areas. The main challenge has been to expand the offer to communities far from the major urban centres.

How is your institution using innovation to improve financial inclusion?

In the case of BCI, various initiatives have been implemented. Our strategy has been to establish partnerships with relevant players in the digital payments market, facilitating interoperability between different systems, such as mobile wallets and other payment methods. The launch of platforms that don’t depend on the Internet, accessible through simple commands via mobile phone – for example *134# – have been crucial for including populations in areas with poor coverage, thus promoting digital and financial inclusion. In addition to technological solutions, we are committed to awareness campaigns and financial education.

What are the main barriers to digital inclusion in Mozambique and how do you intend to overcome them?

Mozambique faces important structural challenges, namely the lack of technological infrastructure in rural areas and the limited digital literacy of a significant part of the population. These are barriers that require innovative and coordinated approaches between the financial sector and the state, in long-term projects that improve access to the Internet and technology. To tackle these barriers, our focus has been twofold: on the one hand, investing in the modernisation of technological infrastructures, with the development of solutions that work in environments with limited coverage. On the other hand, implementing training for both our employees and our customers, with the aim of demystifying the use of digital tools and promoting trust in the digital financial system.

How are you adapting your services to ensure they are safe and accessible?

All our services are developed with a simple design and accessible language, ensuring that even the least digitally literate users can use them intuitively. In addition, we have adopted the latest authentication technologies, reinforcing security. We also run educational campaigns on risks and good practices in the use of digital banking services, strengthening our customers’ confidence in the daily use of these platforms.

What are your expectations regarding the impact of these technologies in Mozambique?

Digital wallets and mobile payments have the potential to radically transform the financial landscape. They are essential for financial inclusion, particularly in rural areas where traditional banking infrastructures are scarce. The growing penetration of mobile devices opens doors for more people to access financial services.

Text: Pedro Cativelos – Photo: D.R.

See Also

SUBSCRIBE TO GET OUR NEWSLETTERS:

SUBSCRIBE TO GET OUR NEWSLETTERS:

Scroll To Top

We have detected that you are using AdBlock Plus or other adblocking software which is causing you to not be able to view 360 Mozambique in its entirety.

Please add www.360mozambique.com to your adblocker’s whitelist or disable it by refreshing afterwards so you can view the site.