Mastercard and Letshego Launch New Debit Card in Mozambique

Mastercard and the Mozambican financial services provider Letshego officially launched a new debit card designed to facilitate the transition towards a more inclusive digital economy in Mozambique. Currently, only 22% of adults in Mozambique have access to financial services, making this initiative a significant advancement for underserved communities.

The partnership aims to leverage Mastercard's extensive global network, allowing customers to move away from cash-heavy transactions and establish a verified financial footprint. The launch is particularly notable as it coincides with Letshego's 15-year milestone in the Mozambican market, marking a decade of the bank's evolution as a micro-lender and a key commercial player.

Gabriel Swanepoel, President of Africa at Mastercard, emphasized the importance of expanding access to secure and reliable digital payments to enable broader financial participation. Carlo Nhamahango, CEO of Letshego Mozambique, noted that the debit card empowers customers to confidently access financial solutions for their daily lives and future aspirations.