[2019-02-15] Government of Mozambique wants to end 2019 with a bank branch in each district

Source: Macauhub

The Mozambican government plans to reach the end of 2019 with a bank branch opened in all 154 districts of the country, the Council of Ministers spokesperson said in Maputo this week.

Ana Comoana, also deputy minister of Culture and Tourism, said that 107 districts already have a bank branch, which means coverage of 69.5%, and the government’s goal is to have the remaining 47 branches open by the end of the year.

“The ‘One district, one bank’ project was established to speed up the process of financial inclusion in rural areas, providing the districts with at least one bank branch,” said Comoana, according to Mozambican daily newspaper Noticias.

On Wednesday, the National Sustainable Development Fund (FNDS) signed a partnership agreement with the Millennium bim bank to open 12 branches in as many districts.

The O País newspaper reported that the Mozambican government has committed to spend some 2 billion meticais (US$31.7 million) on the “One district, one bank” project to guarantee the necessary infrastructure to open bank branches.