Mobile Money:
Impact and Challengers
Addis Ababa, 30th June 2015
PRESENTATION OUTLINE
Overview
Legal Framework
Country profile
Challenges
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Overview

Mozambique is part of the Southern
Africa region with approximately
800.000 km2; population is around
24,4 millions with an adult population
of 14,4 millions, for 2014.

Around three quarters of the adult
population do not have formal bank
account.
About 80% of the adult population
have access to mobile phone

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Legal framework

2007 – The Bank of Mozambique set up its bankarization
strategy, establishing as one of objectives – the use of new
technologies such as mobile payments, among others to
offer financial services based on the experiences of other
countries.

2009 Emend of the Financial Institutions act, to allow mobile
financial services providers to operate in the markets, not as
an MNO but as a stand alone company, either in a bank led
model or non-bank led model.
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Country Profile
General indicators
N
º
Indicador
1.
Bank branches
2.
Microbanks agencies and credit
unions
3.
Mobile Payment Agents
4.
Number of ATMs
5.
Number of POS
6.
Number of bank accounts
7.
Mobile money users
8.
Mobile phone subscribers
Dec 2007
Dec 2011
May 2015
274
522
576
10
18
40
0
7,151
9,615
431
1,136
1,421
3.645
12,481
15,700
1.237.548
3,3347,450
3,443,617
-
2,961,432
3,572,005
3.394.953,00
7.855.345
12,064,652
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Results
 Households are moving from “saving on the mattress” to
save on mobile phone and in some circumstances the
mobile money a are used as a mean of payment;
 The is an increase on the financial resources available to
invest, since the money received in exchange of e-money
has to be held on the trust account in a commercial bank;
 There is an increase on the volume of ETF through mobile
phones which may suggest that household are moving
from buses and relatives to mobile phones to send money;
 Step-forward to have a formal bank account which might
help to get a loan or save without a limit.
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Challenges of Regulator
 Create an enabling environment;
 Set up a regulatory framework to promote consumer
protection and innovations on mobile money;
 Promote financial education campaign;
 Set up a strategy to ensure interoperability among e-money
issuer and to ensure a non exclusivity of mobile payments
agents;
 Set up rules which protects the funds held in trust account;
 Implement a cooperative oversight with other regulators
such as communication authorities, on the process of
licencing and oversight of e-money issuer.
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Challenges
Implement the MoU signed between the Bank of Mozambique
and the telecommunications authority in other to:
 Achieve interoperability among e-money issuer;
 Involve the communications authority on the process of
licencing and oversight of e-money issuer.
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Thank You
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