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Vodacom Mozambique’s Mobile Wallet Has Secured 49B Meticals in Payments to the State

Vodacom Mozambique’s Mobile Wallet Has Secured 49B Meticals in Payments to the State

Vodacom Mozambican’s digital wallet M-Pesa, the country’s market leader, has already collected 49 billion meticals (710 million euros) in payments to the state, its new president said today.

‘Since it was created, M-Pesa [which works from mobile phones] has contributed to the country’s economic development, providing communities with the means to manage their finances, access financial solutions, improve their living conditions and increasingly strengthen the economy of Mozambican families,’ said the chairman of the board of directors of the digital portfolio of Mozambican’s largest mobile telecommunications operator, in Maputo, after taking office.

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Salimo Abdula also said that M-Pesa, which was set up 11 years ago, was concerned with bringing mobile wallet financial services to areas of ‘the most disadvantaged communities, where conventional banking is difficult to reach’.

Thus, he explained, in addition to the revenue collected in favour of the state, Salimo Abdula added the 108 billion meticals (1,567 million euros) of payments via M-Pesa to companies, thus having processed ‘more than one billion [million] meticals [14,510 million euros] in transactions’.

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‘We have a portfolio of more than 10 million subscribers and six million active as of 30 days ago, and a network of more than 90,000 agents (…). They realise the direct and indirect jobs that Vodacom M-Pesa produces on Mozambican territory, for Mozambicans,’ pointed out Salimo Abdula, who once headed Vodacom Mozambican itself and is the first chairman of the board of directors of that digital wallet, a body set up under the supervision of the central bank.

Mozambique currently has three Electronic Money Institutions (EMIs), from the three mobile telecoms operators, which provide financial services via mobile phone, including money transfers between customers or payment for services. It’s a solution that makes it easier and more widespread for the population to access financial services, using only mobile phones and EMI agents on the street.

Abdula said that he wants to see Vodacom Mozambique’s mobile wallet contribute to the financial education of Mozambicans, so that ‘national financial inclusion is more effective’.

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Lusa previously reported that in 2023 the three IMEs beat the record of 401,178,582 transfers – 338.5 million operations in the whole of 2022 and 324.1 million in 2021 – handling more than 340.2 billion meticals (4.860 million euros), according to data from the Bank of Mozambique.

The mKesh mobile wallet, from state-owned operator Tmcel, was the first created in Mozambique in 2012, followed by Vodacom’s M-Pesa in 2013 and Movitel’s e-Mola the following year.

Lusa

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