Mozambique's Ministry of Finance reported that Finance Minister Carla Loveira inaugurated the first branch of Microbanco Sólido S.A in Maputo, marking the start of the microbank’s operations in the country. The launch was framed as supporting financial inclusion by bringing services closer to the population and reducing bureaucracy to facilitate the formalisation of informal entrepreneurs. With the opening, Mozambique now has 73 microbanks, including 13 in Maputo city and 18 in Maputo province. The microbank aims to provide financial products tailored to citizens with limited access to the formal banking system, with a stated focus on women and young people, and to strengthen financial literacy among informal-sector participants. Loveira encouraged the bank to expand to other regions of the country, while chief executive Jerson Tembe highlighted an intention to support informal-sector clients, particularly youth, who move significant amounts of money but lack access to credit and financing.
Ministry of Finance (Mozambique) 2025-07-28
Mozambique's Ministry of Finance inaugurates Microbanco Sólido’s first Maputo branch to launch operations and expand the microbank network to 73
Mozambique's Ministry of Finance announced the inauguration of Microbanco Sólido S.A's first branch in Maputo by Finance Minister Carla Loveira, aimed at enhancing financial inclusion and reducing bureaucracy for informal entrepreneurs. The microbank, now part of Mozambique's 73 microbanks, focuses on providing tailored financial products to underserved citizens, particularly women and youth, and aims to strengthen financial literacy. Expansion to other regions is encouraged to support informal-sector clients lacking access to credit.