Mozambican banking system is present in 58 of the country’s 128 districts

28 May 2012

The banking system in Mozambique is currently present in 58 of the country’s 128 districts, the governor of the Bank of Mozambique, Ernesto Gove said Thursday in Maputo during the inauguration of the headquarters building of Banco ProCredit.

Noting that the number of districts with a bank is still low Gove said that everything was being done to expand the banking system to other areas of Mozambique and that progress had been made as in 2007 just 28 districts had banks.

Cited by Mozambican news agency AIM, Gove also said that some far-off areas with no conditions to set up a bank were currently served by micro-credit companies.

The headquarters of Banco ProCredit, a bank with 100,000 customers or 10 percent of the Mozambican market, according to managing director Yann Groeger, cost US$5 million.

“We now have branches operating in the south, centre, and north of the country,” said Groeger noting the importance of the new building not only to improve working conditions at the bank, but also better to serve its customers. (macauhub)