Mastercard and Mozambican financial services provider Letshego have officially launched a new debit card, aimed at transitioning the nation towards a more inclusive digital economy.
Introduced during a period where digital payment adoption in Mozambique is estimated at just 22 per cent of adults, the initiative represents a major leap in providing underserved communities with secure, globally accepted financial tools.
The partnership, as contained in a joint statement, leverages Mastercard’s expansive global network to allow customers to move away from cash-heavy transactions towards a verifiable financial footprint. This digital shift is expected to enhance consumer safety and support local merchants by increasing digital acceptance across the country.
The launch is particularly significant as it coincides with Letshego’s 15-year milestone in the Mozambican market, marking over a decade of the bank’s evolution from a micro-lender to a key commercial player.
The Division President for Africa at Mastercard, Gabriel Swanepoel, said, “Expanding access to secure and reliable digital payments is essential to enabling broader financial participation. The Letshego Debit Card provides consumers with a simple, trusted way to transact, supporting greater inclusion and unlocking long-term economic opportunity. By equipping more individuals with the tools to participate in the digital economy, we are helping to build financial resilience and empower communities to thrive.”
Similarly, the Chief Executive Officer of Letshego Mozambique, Carlos Nhamahango, said, “As we mark 15 years in Mozambique, this launch reflects our continued commitment to innovation and meaningful local impact. The Letshego Debit Card empowers customers to move beyond cash, transact with confidence, and access financial solutions that support their daily lives and future aspirations. This is a gateway for our customers to build a financial history that was previously out of reach.”
The initiative aligns with broader global trends highlighted in the World Bank’s Global Findex 2025, which notes that while 79 per cent of adults globally now have access to financial accounts, over a billion people remain excluded. In Mozambique, where the formal financial infrastructure is still developing, the new debit card serves as a critical infrastructure piece for sustainable economic growth.
By integrating Mastercard’s secure technology, Letshego aims to provide its micro and small enterprise clients, as well as individual consumers, with a resilient platform for international and local trade. This collaboration not only strengthens Mozambique’s financial infrastructure but also reinforces the commitment of both organisations to fostering a cashless, transparent, and more equitable financial ecosystem across Southern Africa.
