FinScope Mozambique 2009 is the first national survey of its kind, in which a representational cross-section of all adult Mozambicans have been interviewed comprehensively about their financial behaviour, familiarity with financial terminology and their use of financial services. As economies grow, so does the sophistication of financial services offered. Mozambique is no exception where a significant percentage of urban residents now use debit and credit cards, ATMs, overdraft facilities and internet banking. Though banking technology is essentially similar to developed countries, a very large majority of Mozambicans are excluded not only from banking services but from alternative informal services as well. A better understanding of financial access patterns is a critical first step towards overcoming the constraints that prevent people from benefiting from facilitated financial transactions, safekeeping of funds, saving securely, borrowing when financially restrained and avoiding the consequences of mishap through insurance.
The findings of this survey will be of obvious interest to the financial service providers but also to the government and donors as so many issues relating to development and well-being depend on the population’s ability to access basic financial services.