Mozambican banking system is present in 40 pct of the country

8 July 2010

Maputo, Mozambique, 8 July – The Mozambican banking system at the end of March covered 39.8 percent of the country, with 410 branches in 51 of the 128 districts, according to the bank of Mozambique.

The document entitled, “Price and Financial Climate” by the central bank, also said that since the beginning of the year a further nine banking branches and seven micro financing operators had been authorised.

So-called alternative means of payment also increased, with the installation of 631 automatic teller machines so far, 4,941 electronic payment terminals and a rise of 47.8 percent in the number of electronic cards.

VISA credit cards increased by 12.4 percent in the first quarter, now totalling 156,780 units, the Mozambican central bank noted. (macauhub)