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Mobile money a vehicle to financial inclusion in Mozambique

Mobile money a vehicle to financial inclusion in Mozambique   Access to financial services in Mozambique is still limited, exacerbated by existing low literacy levels, especially in rural areas. Twenty percent (20%) of the country’s adult population have access to banking and financial services made up of 40% of people living in urban areas and 10% of people living in rural areas (FINSCOPE Study, 2014)1. The government of Mozambique has sought to address financial exclusion through the National Financial Inclusion Strategy (2016-2022)2, which aims to increase the accessibility of financial services to the

A day as an M-Pesa promoter

By: Almeira Paruque, FSDMoç Analyst A new day begins in Mozambique and different groups of young people gather around markets, mall entrances, crowded squares and streets around the country to perform the duties of an M-Pesa promoter. They must convince the next customer to open an M-Pesa account and, through it, start using new or additional financial services. The 16th of August of 2018 would represent a normal workday for the M-Pesa promoters assigned to Xiquelene market, Aeroporto A neighborhood and Adelina market (all in Maputo city), if not for the visit of a

How FSDMoç is addressing financial sector regulation challenges: The Regulatory Sandbox Story!

By: Kátia Agostinho, FSDMoç Analyst Digital tools are making access to financial products and services possible around the world, and Mozambique should be able to learn from other countries that are more advanced in this journey and provide the same opportunities for the Mozambicans, while at the same time takes advantage from the great ideas being introduced by Mozambicans. This country is 2515km coast long and has a low population density with 30.1hab/km2[1] on a 799,380km2 area. Providing financial services via the traditional “brick and mortar” branches is proven to be inefficient and exclusionist

Light (Life) after Sunset: Enabled by Digital Financial Services

By: Belmiro Nhamithambo, FSDMoç Knowledge, Monitoring and Learning Analyst and Vânia Matola, FSDMoç Analyst Access to electricity can transform lives and well-being of men and women living in rural areas. Mozambique needs to invest in renewable energies to support the expansion of the electricity grid.  While the grid only covers 29% of the country’s 28.8 million population, and expansion of the grid is slow and constrained by large infrastructure required, investments are needed in affordable and accessible alternative clean energy sources. Mr. and Mrs. Chipandeque, an elderly couple that live in Sussundenga district

Instant and convenient banking for the excluded population of Mozambique

Instant and convenient banking for the excluded population of Mozambique Written by: Denise Alves, Communication Manager of FSDMoç On Thursday February 15th 2018 a team from DFID and FSDMoç visited Banco Letshego Project LetsGo – Blue Box Solar power Agency Banking, in Maputo City. The team was composed by 13 people (8 from DFID, 3 from FSDMoç and 2 from Banco Letshego). The Project LetsGo – Blue Box Solar power Agency Banking is an innovative and differentiated Agency banking model which uses solar power (in areas where there is no energy) to support

Let’s save today to fulfill our dreams in the future.

Written by: Denise Alves, Communication Manager of FSDMoç World Savings Day was established on 31 October 1924 during the 1st International Congress of the Savings Bank in Milan, Italy[1]. The day was created with the aim of raising public awareness of the importance of saving for both modern economies and individuals. The main topics are focused on the importance of saving. Nowadays, the focus of the banks that organize World Saving Day is in developing countries, where many people are not banked. In Mozambique, the celebrations of this date fall within the scope

Investing in the Next Generation – Highlights

By: Kathryn Larcombe and Lindsey Allwright, FSDMoç Consultants The youth labour force is estimated to be growing by almost 40% per annum however the formal job market only employs 700,000 people.[1] The majority of young people therefore work in the informal sector, and have an estimated underemployment rate of 80%.[2] What role can the finance sector play? In the ILO’s A Call for Action in regard to the Youth Employment Crisis, access to finance for youth entrepreneurs is highlighted as a key action. For young people that create their own employment through starting

Dar Es Salam is the world gathering on women financial inclusion matters this week

By: Esselina Macome (FSDMoç Executive Director) and Kátia Agositnho (FSDMoç Market Analyst) This week, more than 300 participants from around the world will gather in Dar Es Salam for the Making finance work for women finance summit (MFWW) organized by Women World Banking[1], FSDAfrica and The Financial Sector Deepening Trust Tanzania. The key question is what can those and other stakeholders do to facilitate women’s access to finance, and more important, how can they do it? Some of us will be fortunate to also participate in other two different events prior and after