The government considers insufficient income the main obstacle to saving in the country, affecting the majority of the population, according to data included in the National Financial Inclusion Strategy (ENIF) 2025–31, released by the Ministry of Finance.
According to the document, only four out of ten Mozambicans save in some way, with 72% of non-savers citing lack of income as the primary reason. Another 25.3% say they do not prioritize saving, and 16.7% point to unexpected expenses as a factor.
The report notes that in 2022, only 38.3% of adults saved, both in rural and urban areas. Most did so outside the formal financial system: 36.4% used banks, 31.9% kept money at home, and 17.7% used community credit and savings associations.
The government acknowledges that lack of planning and saving for the future increases the risk of financial hardship, poverty, and dependence on others or the state, especially when work capacity declines.
The new strategy outlines four main pillars: expanding access to financial products and services, increasing the use of affordable and quality solutions, promoting financial literacy, and strengthening consumer protection and confidence in the financial system.
The Ministry of Finance emphasizes that financial inclusion is “a catalyst” for socio-economic development, enabling not only greater access to services but also enhancing the ability of families and businesses to invest, create enterprises, and improve their livelihoods.
Source: Lusa
