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Moza Banco: Disrupting the Mozambican banking sector


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Moza Banco: The preferred bank of Mozambique


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THE AFRICAN BANKING SECTOR IS A HOTBED OF INNOVATION. IN MOZAMBIQUE, MOZA BANCO IS DRIVING FINANCIAL INCLUSION WITH ITS CUTTING-EDGE DIGITAL STRATEGY frica has the secondfastest growing banking market in the world, according to a report by Kinsey, and it seems the story is no different in Mozambique. Championing services like mobile money solutions and agent banking, one of the country’s leading commercial banks,

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Moza Banco, has strived to offer affordable, instant and reliable financial services to both urban neighbourhoods as well as rural villages, areas where no bank may have ever established a branch before. Looking forward, the 10-yearold bank has big plans for the future but none outshine its


“Most of the population don’t have bank accounts and so part of our strategy is to reach this demographic through alternative services from what is provided in this market. By offering services like agent banking, mobile banking and other financial facilities we aim to create a genuine relationship with our clients and make Moza Banco their preferred bank of choice.” The African banking sector is a hotbed of innovation and Moza Banco is no exception. Sansão Monjane, Head of Information Technology and Systems, believes the way in which Moza Banco adopts unique innovations and business approaches helps to distinguish it from its competitors. commitment to be the nation’s preferred

“We do our best to ensure we

bank of choice and to promote financial

are also at the cutting-edge of

inclusion.

technology and that our services

“Moza Banco isn’t focused on being the

are available to everyone at their

biggest bank in terms of size or its number

time of need,” Monjane explains.

of clients but is focused on establishing

“We take a different approach

its place as the country’s preferred bank,”

compared to the other banks in

explains Espírito Santo Monjane Jr.,

Mozambique and this helps to

Deputy Director of Information

differentiate our services

Technology and Systems.

from the others. w w w. m o z a b a n c o . c o . m z

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Espírito Santo Monjane Jr. Deputy Director of Information Technology and Systems

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Espírito Santo Monjane Jr. is 30-year-old professional who has worked in the banking industry for nearly eight years, five of which at Moza Banco. Having studied Computer Science, Monjane Jr. started his career working for a small startup, AfriSis Lda., as a programmer, developing projects for municipal departments and district governments thus following his passion for software development. His first experience in the banking industry came from BCI, in 2010, also as a programmer, where his main focus was developing user interfaces for their business process automation.

Sansão, Monjane Head of Information Technology and Systems Sansão Monjane is a young Head of IT in one of the most promising banks in Mozambique, with a team of 45 people that ensures the the maintenance and evolution of Moza banco IT systems, that includes infrastructure and all applications and IT related services. With a degree in Journalism, Monjane was always passionate about the IT world, which lead him to work in reputable companies in the market, such as Intercampus from Growth from Knowledge (GFK) Group as IT Manager. In 2012, Monjane joined the banking sector as an IT technician, and since then has rose through the ranks to his current position.


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“That’s why we’ve been awarded

we are pushing it further through

as the most innovative Southern

more agents across the country.

African bank for the African Banker Magazine for two years in

in the market without having to

a row,” he adds. “In essence,

put a traditional branch at every

we always try to innovate to

site. We believe it is the most via-

make sure that we are

ble solution for growth going

enablers in the market.”

forward and it is also in line with

One way in which the Mozam-

the country’s strategy to include

bican bank is making waves in the

more people into the financial

sector is through its use of agent

system, which is a big issue in

banking, whereby a banking

Mozambique, and in Africa as a

agent – that is a retail or postal

whole.”

outlet – processes clients’ trans08

“It’s an alternative way to grow

“Like many other developing

actions on behalf of the bank.  

countries, the infrastructure in

Launching the first banking

Mozambique is challenging,”

agent in Mozambique around three years ago, Monjane Jr.

adds Monjane. “We don’t have the means to

believes this cogent strategy has

get to remote places. If you have

been a roaring success.

a branch in a remote place, you

“Right now, we are pushing

have higher costs of transferring

aggressively towards agent bank-

money to those places, higher

ing, whereby we partner with

costs of maintenance for the

some commercial entities so that

branch, and higher costs for

we can provide banking services

the employees. That’s why

all over the country,” he explains.

with agent banking, you can

“We are going outside the urban areas to rural markets where people want to trade cash.

reach this slice of the population in a much easier way.” The financial landscape is

We were the first to make that

changing rapidly and perhaps

happen in Mozambique and now

one of the most notable trends is


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the emergence of application

leading disruptors in the market,

programming interfaces, better

this is a trend which Moza Banco

known as APIs.

has been keen to tap into.

Located at the heart of open

“We are in an area of Mozam-

banking, APIs are open source

bique where a lot of people are

technologies which allow fintechs

introducing new technologies,

and third-party developers

new solutions, and enabling new

to build financial applications

areas of the market,” notes Mon-

on top of the bank’s existing

jane. “In IT, our strategy is to

IT infrastructure.

partner with those entities and

By ‘opening’ up the banking

make our banking services

sector, the introduction of APIs

available through alternative

allows third-party developers to

services and apps such as

create helpful services and tools

when you are paying your bus

that customers can utilise.

fare or shopping online.”

Partnering with some of the

To compete in Africa’s diverse w w w. m o z a b a n c o . c o . m z


“BY OFFERING SERVICES LIKE AGENT BANKING, MOBILE BANKING AND OTHER FINANCIAL FACILITIES WE AIM TO CREATE A GENUINE RELATIONSHIP WITH OUR CLIENTS AND MAKE MOZA BANCO THEIR PREFERRED BANK OF CHOICE” — Espírito Santo Monjane Jr., Deputy Director of Information Technology and Systems

The best of ICT with a human touch Living in a mode that is “always-on”, and communicating within a society that never sleeps, Information and Communication Technologies are vital for every people and business activities. We imagine and deliver top-notch, scalable and sustainable solutions, with a human face and touch, at the heart of digital transformation. Axians is the VINCI Energies brand dedicated to ICT. We’re in 22 countries, with 9000 employees and revenues of €2 billion, in 2017.


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financial market, mobile banking is a must. In the continent today, there are around 100mn active mobile money accounts, used by one in 10 African adults, according to

In 2014, ‘Global Banking and Finance Review’ named Moza Banco as the fastest-growing commercial bank operating in Mozambique in 2014.

data from McKinsey. “In Mozambique, around 5mn people have bank accounts yet 18mn people have a mobile phone. Therefore, mobile banking is a key way to get to non-banking clients in the country,” explains Monjane. By all accounts, it seems Moza Banco has an expansive portfolio on offer, and the firm shows no signs of slowing down its innovation. For instance, the bank recently introduced self-service kiosks so that people can pay their taxes or pay for government services with ease. w w w. m o z a b a n c o . c o . m z


But, despite this, the commercial bank is keen not to push technology on its customers. Instead, Monjane Jr. says the bank’s digital strategy is about meeting the capabilities of its clients to genuinely promote financial inclusion. “We’re trying to make the interface simple and intuitive so that it is easy to engage,” explains Monjane Jr. “We are taking what they know, something as simple as their feature phone, to provide services,” he continues. “As we reach people with more financial opportunities we can also offer applications for smartphones. “Technology is everywhere, but we are 12

adapting to the capabilities of our clients. We’re not forcing them to use a specific tech-

don’t have to worry about the

nology. We’re not saying, ‘everybody should

cost of producing paper money.

have a feature phone or the cheapest smart-

For the bank, it’s just great for us,

phone to use our services’. Instead, we are

because we have more clients,

saying, ‘we understand might not have this

more business, and we have

technology so we will use what you have so

more projects to offer the com-

that you can have a relationship with us’.”

munity. Then from a social

The underlying message behind Moza

perspective, it’s helping the econ-

Banco is one of financial inclusion. This is not

omy grow and it makes life easy

only important for the bank, it’s also vital for

for the everyday citizen.”

the country at large. “Financial inclusion can be viewed from two

A successful digital transformation needs a successful team

perspectives: it can be viewed as business for

to lead the way. At Moza Banco, it

Moza Banco, but it also has a huge social ben-

seems the firm’s young, highly

efit,” says Monjane.

skilled workforce is critical to its

“If we digitise the money in the country, we

success.


tions to the everyday problems we face inside and outside the bank. We are making a lot of effort to push the bank forward, to make ourselves better each day.” It’s an exciting time for Moza Banco. The firm has recently celebrated its 10th anniversary and from December to April the banking market grew around 5%. As such, Moza Banco remains optimistic about the future. “The banking sector is one of the most promising markets in Mozambique,” reflects Monjane. “I think that, like a lot of places in Africa, we have entered a new era of banking where we don’t have to follow traditional models that were set up years ago. “At Moza Banco, we have a

“In the next five to 10 years we expect Moza

shared belief that young people

Banco to be one of the top three banks in the

are critical in the banking sector,”

market for definite,” he adds. “We expect to

Monjane explains. “We invest a

be the preferred bank for our customers but,

lot in upskilling our staff and

most of all, we expect to contribute exponen-

sending people for training.

tially to the growth of

We invest a lot in enriching our

the country, because, doing banking in

personnel to keep them up

Mozambique isn’t just about business. It plays

to date with the latest

a huge social role.”

technology in the market. “In IT, in particular, we also understand that innovation is a key motivation. Aside from everyday work, we push people and push ourselves to think outside the box and come up with soluw w w. m o z a b a n c o . c o . m z

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Moza Banco - Brochure 2018  
Moza Banco - Brochure 2018