Maputo, July 24, 2026 (Lusa) - ATMs and POS terminals saw reduced usage in Mozambique in 2025, whilst e-money services consolidated their position as the main driver of financial inclusion, according to data from the Bank of Mozambique.
According to the 2025 Financial Inclusion Report, to which Lusa gained access on Friday, the country recorded 482,359 access points to financial services, 36% more than in 2024, with this growth driven almost exclusively by the expansion of non-bank agents linked to Electronic Money Institutions (EMIs).
In total, Mozambique had 446,604 non-bank agents at the end of 2025, compared with 315,005 a year earlier, an increase of 41.8% that consolidated these EMI operators, via mobile phone, as the main channel for accessing financial services in the country.
Meanwhile, the number of cash machines (ATMs) fell from 1,391 to 1,383, whilst payment terminals (POS) declined from 35,486 to 32,236, a reduction of 9.2%.
«The year 2025 was characterised by the continuation of the positive trend in financial inclusion, driven by digitalisation and the further expansion of EMI services,» the report stated.
It added that the expansion of the network of e-money agents reflects a structural transformation in how Mozambicans access financial services, with mobile digital channels gradually replacing parts of the traditional banking infrastructure.
The «financial system is gradually evolving from physical infrastructure to mobile digital solutions», it notes.
The Bank of Mozambique explained that the reduction in POS terminals is mainly due to the decommissioning of inactive terminals and the cancellation of those deemed unprofitable by financial institutions.
At the same time, ownership of e-money accounts continued to grow much faster than that of traditional banking accounts. It reached 1,313 accounts per thousand adults in 2025, up 20% from 1,093 in 2024. Bank accounts, by contrast, grew by just 2%, rising from 330 to 337 per thousand adults.
The growth was particularly marked among women, whose ownership of e-money accounts rose by 24%, from 924 to 1,144 per thousand adults, helping to partially reduce the gender gap in access to financial services.
However, there is still room for improvement in access to credit, with the share of women rising from 31% to 34%, whilst that of men rose from 59% to 66%, thereby widening the gender gap in this area.
Mozambique is home to 15 commercial banks and 12 microbanks, as well as credit unions and savings and credit organisations. There are also three mobile wallet services, one from each mobile network operator, offering money transfers and bill payments available at any street corner.
The central bank's report also identifies significant regional differences but highlights that the expansion of e-money agents has improved coverage in provinces traditionally underserved by the financial system, including Niassa, Cabo Delgado and Zambézia.
In Cabo Delgado, one of the country's least financially inclusive provinces, which has experienced an armed insurgency since 2017, the Financial Inclusion Index (FII) rose from 23.3 to 25.8 points, and the number of EMI accounts increased from 835 to 1,081 per thousand adults.
According to the Bank of Mozambique, non-bank agents recorded growth of 45.5% in Niassa, 45.2% in Cabo Delgado, and 40.5% in Zambézia, highlighting greater penetration of digital financial services in areas where conventional banking remains limited.
The data also indicate a shift in e-money usage patterns. In 2025, transfers accounted for 48% of transactions via these services, compared with 41% in 2024, whilst withdrawals and payments saw their relative shares decline.
PVJ/ADB // ADB.
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