Good afternoon. Does every adult in Mozambique now have an electronic money account? Probably not quite, but there are enough e-money accounts to go round all of them with some left over (see below). E-payments are one of Mozambique’s few unqualified success stories from the past decade. In contrast to the proportion of the population that holds a bank account, which has remained almost static, the use of e-money platforms has exploded since 2015.
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The authorities cannot take any credit for this growth: on the contrary, the government and the Bank of Mozambique have viewed e-money platforms like M-Pesa and Emola with suspicion. The central bank has sought to regulate the mobile phone network operators that run the e-money platforms as though they are banks, although they do not provide a full range of banking services.
