The Mozambican banking sector has recorded profits of around $205 million with an increase of 28.88% from foreign exchange revaluation, 20.29% from financial operations, and 15.95% in net interest income, representing an increase of 2.2 billion meticais compared to the same period in 2021. Deposits continued to be the main and most profitable source of funding for the banking sector, with a weight of 98.02%.
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DFC and Mastercard will contribute $50 million to promote financial inclusion in Africa
The US Agency for International Development Finance (DFC) and Mastercard have announced a $50m funding project to promote digitalisation and financial inclusion in Africa. The project will see DFC invest up to $50m in groups that are part of the Community Pass network, which helps to provide digital connectivity, smartphone use and ID systems to underserved communities in India, Kenya, Mauritania, Mozambique, Tanzania and Uganda. The partnership aims to make the digital economy more inclusive and sustainable for all.
Categories: Inclusion