Electricidade de Moçambique (EDM) and Millennium bim have announced a strategic partnership aimed at strengthening financial inclusion in the country through the provision of integrated payment solutions and financial services accessible to customers of the state-owned electricity company.
According to a joint statement, the initiative seeks to expand public access to banking and digital services, promoting greater convenience in financial transactions and encouraging the use of electronic payment platforms.
“The partnership represents an important step in strengthening financial and digital inclusion in Mozambique, bringing banking services closer to citizens and creating more accessible and efficient solutions for customers,” the document states.
The agreement is aligned with EDM’s service modernisation strategy and Millennium bim’s efforts to expand banking access, in a context where a large part of the population still lacks regular access to the formal financial system.
According to the statement, cooperation between the two institutions is expected to enable the integration of simpler and safer payment mechanisms, also contributing to reducing cash circulation and increasing financial digitalisation.
“The joint commitment aims to facilitate customers’ access to innovative financial solutions, while promoting operational efficiency and economic inclusion,” the note adds.
Although the statement does not detail the financial value involved or the full implementation timeline, both institutions argue that the partnership could help accelerate the digital transformation of public and financial services in Mozambique.
In recent years, both EDM and Millennium bim have been investing in strengthening digital channels and developing electronic payment solutions, in line with the growing use of mobile financial services in the country.
