Building mobile bank branches in northern Mozambique
- Mozambique is ranked 185 out of 187 countries in the UN Human Development Index.
- Life expectancy in Mozambique is 50.7 years.
- 60% of the population live on less than $1 per day, GNI per capita is $906 (PPP).
- 39% of the population are undernourished.
- 1 in 8 people aged 15 to 49 are HIV positive.
There is also significant financial exclusion: Mozambique has only 344 bank branches for its population of 21.6m and the northernmost and poorest province, Niassa, is the size of England and has just 6 bank branches. The majority of people have no way to save money securely, borrow money in times of crisis (to pay hospital bills, for example) or invest in their business. This severely reduces their chances of escaping the cycle of poverty.
Your donation will help to fund one new permanent bank branch in Gurue and one mobile branch (a bank on wheels) which will travel into rural communities to bring financial services to people who live too far from Gurue. The new bank branch together with the bank on wheels will enable 3,850 people to take microloans, 5,500 people to open savings accounts and 19,250 people to take out life insurance and 8,925 people to receive financial literacy training. It will create or sustain 5,775 jobs and reach 21,175 direct and indirect beneficiaries.