Vodacom Mozambique’s mobile wallet has guaranteed 710 million to the State

Mozambique

“Since it was created, the M-Pesa [which operates from a mobile phone] has contributed to the country’s economic development, providing communities with the means to manage their finances, have access to financial solutions, improve their living conditions and increasingly strengthen the economy of Mozambican families,” said, in Maputo, the chairman of the board of directors of the digital wallet of the largest mobile telecommunications operator in Mozambique, after taking office.

Salimo Abdula also assumed that it is a concern of M-Pesa, created 11 years ago, to bring mobile wallet financial services to the areas of “the most disadvantaged communities, where conventional banking can hardly reach”.

Thus, he detailed, in addition to the revenue collected for the State, Salimo Abdula added the 108 billion meticais (1.567 billion euros) of payments via M-Pesa to companies, thus processing “more than one billion [million of million] meticais [14.510 billion euros] in transactions”.

“We have a portfolio of more than 10 million subscribers and six million active for 30 days, and a network of more than 90 thousand agents (…). They are aware of the direct and indirect jobs that Vodacom M-Pesa produces in the Mozambican territory, for Mozambicans,” said Salimo Abdula, who has already led Vodacom Mozambique itself and is the first chairman of the board of directors of that digital wallet, a body created within the scope of the supervision by the central bank.

Mozambique currently has three Electronic Money Institutions (IME), from the three mobile telecommunications operators, which thus provide financial services via mobile phone, including money transfers between customers or payment for services. This is a solution that facilitates and massificates the population’s access to financial services, using only their mobile phone and IME agents on the street.

Abdula assumed that he intends to see Vodacom Mozambique’s mobile wallet contribute to the financial education of Mozambicans, so that “national financial inclusion is more effective”.

Lusa previously reported that the three IMEs broke the record of 401,178,582 transfers in 2023 – 338.5 million operations throughout 2022 and 324.1 million in 2021 -, moving more than 340.2 billion meticais (4.860 billion euros), according to data from the Bank of Mozambique.

The mKesh mobile wallet, from the state-owned operator Tmcel, was the first created in Mozambique, in 2012, followed by M-Pesa, from Vodacom, in 2013, and the following year by e-Mola, from Movitel.

Read Also: First candidacy for President of the Republic of Mozambique submitted (Portuguese version)

Crédito: Link de origem

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