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Financial Inclusion in Mozambique

Financial Inclusion in Mozambique

7 December, 2011    

Finmark Trust participated in an exposure visit conducted by Cenfri to Maputo, Mozambique from the 15th to the 17th of September 2010. The visit was part of the Finmark Trust’s mandate of promoting financial inclusion and regional financial integration within the SADC region.

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The goal of this visit was to make suggestions on the strategy that FinMark can pursue to support the development of insurance and retail payment system markets in Mozambique. The visit did not provide a comprehensive overview of the Mozambican market, however it highlighted some interesting insights and trends that were observed or emerged during the country visit.

A number of meetings were held with various stakeholders in the RPS and insurance sectors including insurance companies, microfinance institutions, donors, the Bank of Mozambique and mobile operators.

In addition, the visit culminated in a workshop organized by the insurance registrar general on the latest trends in microinsurance around the world. Participants included key stakeholders namely, AMOMIF (the association of microfinance institutions), donor agencies and insurance companies.