The rural banking, an presidential initiative launched in 2016, reached Pemba Metuge and Meluco, in Cabo Delgado province. The two districts witnessed, on June 7, the launching ceremonies of the first stone for the construction of branches of BCI and MozaBanco, respectively.
The two events, witnessed by the President of the Republic, Filipe Myusi, during his visit to those districts, were led by the provincial governor, Júliio Parruque, allonside with the representatives of the banks, where in Metuge the chairman of the Executive Committee of BCI Paulo Sousa made him present, while in Meluco, the Commercial Director of MozaBanco, Sérgio Alves was present..
Both in Meluco and in Pemba Metuge the launching of the first stone was preceded by traditional ceremonies led by community leaders in line with local culture, witnessed by hundreds of people who sang and danced to the sound of drums, expressing great joy for the arrival of banking services in their districts.
Since the beginning of the program "Banking Mozambique! - A Ditrito One Bank”, five districts in Cabo delgado were covered, and in three, the agencies are already in operation, in Muidumbi, Nangade and Balama, and in two branches (Namumo and Mecufi) are still under construction.
With the launching of the project in Meluco and Metuge, Cabo Delgado province now has a 90% banking coverage. As of of now only with only two districts (Ibo and Quissanga) are sill lacking banking facilities. However works in those districts are to start in September this year.
At the national level, 39 districts were included in the program from 2015 to May 2019, 19 of which with branches in operation and 20 under construction, bringing to 124 those with banking services, compared to 85 in 2015. In terms of bank coverage, the country has grown from 55 percent in 2015 to 81 percent, representing growth of 26 percent..
According to government planning by the end of the year, there is expected 1 billion meticais investment to ensure coverage of the remaining 30 districts and 100 percent compliance with President Nyusi's pledge to ensure that each of the 154 districts have at least one bank branch.
