Financial inclusion in Mozambique has grown significantly in the last 5 years, driven by electronic transactions on the M-Pesa, e-Mola and mobile account platforms, which operate in almost the entire territory of the country, with the support of banking and telephone companies. mobile.
The fact was highlighted by the President of the Association of Fintechs of Mozambique, João Gaspar, an organization that brings together entities that operate in the economic financial system and in the banking sector.
The manager was speaking at the conference organized by BTC and B&S-Banca & Seguros, in partnership with Banco Comercial e Investimentos (BCI), in a panel that discussed “The current challenges of the capital market in Mozambique”.
Two works were also launched at the event entitled “Mercado de Capitals: Coletânea de Pesquisas Académicas – Vol.1” and “Practical Guide for Listing on the Mozambican Stock Exchange”.
"Financial inclusion is growing in the country. Reports show a notable growth in electronic transactions, motivated essentially by M-Pesa which, at the moment, has more than 5 million accounts and 70 thousand agents, the mobile account, domiciled at the commercial bank, has over 3,5 million accounts , while the 18 banks together do not reach 4 million customers”, said João Gaspar.
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According to the source, the growth of financial inclusion brings with it a positive social and economic impact on the lives of the population.
"For example, there are people who pay expenses through M-Pesa, e-Mola or Mobile Account, in commercial establishments. Accounts based on digital technologies also bring changes in rural areas, with the need to streamline the infrastructure of the telecommunications network and electricity in remote areas”, He explained.
For his part, the founder of Business Trading and Consulting (BTC), Gerson David, said that the conference aimed to reflect on financial inclusion, aiming to guarantee greater access to the capital market for different actors and in particular non-profit investors. professionals.
Also under debate, according to David, was a topic on: “Opportunities in the Capital Market, Real Estate Investment Fund”, because there is a notable growth in this sector.
"Itn Mozambique there is fertile ground for the constitution of the Real Estate Investment Fund and we also discuss strengthening confidence, so that the capital market can function”, he said.
For Diogo, the main challenges are of a legal nature because there is a need to legislate, for example, the role of autonomous investment consultants, a function that is currently performed by commercial banks.
In the second panel, the Mozambican Stock Exchange, represented by Sara Cândido, from the legal department of this institution, said that, currently, 11 companies are listed on the stock exchange
He detailed that for the admission of the company on the stock exchange it is necessary to meet requirements on its accounts so that it cannot defraud investors.
