ATMs and POS terminals lose further ground to mobile money in Mozambique

Mozambique recorded 482,359 access points for financial services, a 36% increase compared to 2024, driven almost exclusively by the expansion of non-bank agents linked to Electronic Money Institutions. Automated Teller Machines (ATMs) and Point-of-Sale (POS) terminals continued to lose market share in Mozambique in 2025, while mobile money services consolidated their position as the primary engine of financial inclusion, according to data from the Bank of Mozambique. According to the Financial Inclusion Report 2025 accessed by Lusa, the country recorded 482,359 access points to financial services, up 36% from 2024, a growth driven almost entirely by the expansion of non-bank agents linked to Electronic Money Institutions (IMEs).

In total, Mozambique had 446,604 non-bank agents at the end of 2025, compared to 315,005 a year earlier—a 41.8% increase that cemented these IME operators, functioning via mobile phones, as the primary channel for accessing financial services in the country. Conversely, the number of ATMs declined from 1,391 to 1,383, while POS terminals fell from 35,486 to 32,236, representing a 9.2% reduction. “The year 2025 was characterized by the continuation of a positive trend in financial inclusion, driven by digitization and the rapid expansion of IME services,” the report states.

It adds that the expansion of the mobile money agent network 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 evolving from physical infrastructures toward mobile digital solutions,” the document notes. The Bank of Mozambique explains that the reduction in POS terminals stems mainly from the decommissioning of inactive terminals and the cancellation of those deemed unprofitable by financial institutions.

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At the same time, mobile money account ownership continued to grow at a pace far exceeding that of traditional banking. It reached 1,313 accounts per thousand adults in 2025, a 20% increase from 1,093 in 2024. Meanwhile, traditional bank accounts grew by only 2%, moving from 330 to 337 per thousand adults.

Growth was particularly pronounced among women, whose mobile money account ownership increased 24%, from 924 to 1,144 per thousand adults, helping partially narrow the gender gap in access to basic financial services. However, inequality persists in access to credit, with women’s participation rising from 31% to 34%, while men’s increased from 59% to 66%, widening the gender disparity in credit access. The central bank report also highlights strong regional disparities but emphasizes that the expansion of mobile money agents enabled coverage gains in provinces traditionally underserved by the financial system, including Niassa, Cabo Delgado, and Zambézia.

In Cabo Delgado, one of the country’s least financially included provinces, affected since 2017 by an armed insurgency, the Financial Inclusion Index (FII) rose from 23.3 to 25.8 points, while mobile money accounts climbed from 835 to 1,081 per thousand adults. According to the Bank of Mozambique, non-bank agents grew by 45.5% in Niassa, 45.2% in Cabo Delgado, and 40.5% in Zambézia, demonstrating deeper penetration of digital financial services in areas where the presence of conventional banking remains limited. The data further points to a shift in mobile money usage habits.

In 2025, peer-to-peer transfers came to account for 48% of all transactions conducted through these services, up from 41% in 2024, while cash withdrawals and direct merchant payments lost relative share. Despite the strong expansion of digital services, the overall national Financial Inclusion Index remained unchanged at 36.4 points, reflecting a level classified as moderate by the central bank. Mozambique currently operates 15 commercial banks and 12 microbanks, alongside credit cooperatives and savings organisations. Additionally, three mobile wallet platforms—operated by the country’s mobile network providers—offer services such as money transfers and bill payments available on street corners nationwide.

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