Mastercard and Letshego launch debit card to promote financial inclusion in the country

Mastercard and Letshego bank have launched a debit card in Mozambique, in a partnership aimed at reducing reliance on physical cash and expanding access to formal financial services for the population.

The card allows for secure transactions both nationally and internationally through Mastercard's global network, a concrete tool at a time when only 22% of adults in the country use digital payment methods, according to the two institutions.

This initiative gains importance in a worrying global context, where the World Bank's Global Findex 2025 report indicates that more than one billion people remain excluded from the formal financial system, despite 79% of adults worldwide already having access to a bank account.

"Expanding access to secure digital payments is essential for broader financial participation," said Gabriel Swanepoel, president of Mastercard's Africa division, underlining the role of cards in creating economic opportunities for communities underserved by traditional banking.

Carlos Nhamahango, CEO of Letshego Mozambique, highlighted that the launch coincides with the institution's 15 years of operation in the country and represents "a continued commitment to innovation and a significant local impact."

In addition to consumers, the two institutions emphasize that the expansion of digital payments also benefits merchants and contributes to the development of the national financial infrastructure, promoting greater formalization of the Mozambican economy.