Bank credit to the Mozambican economy grew significantly in July, reaching 247.7 billion meticais, which is equivalent to 3.8 billion dollars. This figure is the highest since the beginning of the year and marks the third consecutive month of increase, showing a positive trend in the country’s financial system. According to data from the Bank of Mozambique (BdM), this 1% increase in relation to the volume of credit granted in June, which was 245.3 billion meticais, reflects the growing confidence in the economy and the strengthening of commercial activities.
Loans to individuals continue to be the most dynamic segment, with a total of 94.5 billion meticais, or 1.4 billion dollars. This figure is the highest recorded in at least a year, demonstrating the willingness of families to invest and consume. On the other hand, the transport and communications sector saw a slight decrease in credit, which fell to 26 billion meticais. In contrast, credit to the manufacturing industry increased to 25.2 billion meticais, while trade received 24.6 billion meticais.
In addition, the reference interest rate for credit operations remained stable at 21.2% in September, a decision taken by the Mozambican Banking Association (AMB) to maintain the attractiveness of credit operations, even in an inflationary scenario. This stability in rates is crucial to further boosting credit and supporting economic growth.
Currently, Mozambique’s banking system is made up of 15 commercial banks, 12 microbanks, as well as credit cooperatives and various savings and credit organizations, which play essential roles in the country’s financial inclusion and economic development. With these figures, the economic outlook shows signs of optimism, creating favorable expectations for the coming months.
