Banco BCI's “Agências Vaivém”: a rural banking solution

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The “Agências Vaivém” or “Truck agencies” of the Mozambican Banco Comercial e de Investimentos (BCI) are an innovative initiative to bring financial services closer to people in remote areas. The first mobile agencies were launched in Tete and Nampula at the beginning of this month. The mobile branches provide the possibility to do all transactions done at a fixed branch: they each are equipped with three cashier stations, one ATM and 3 POS, which can be used to make withdrawals by card in the same way as with an ATM.

In Tete, the mobile agencies cover two villages in the province of Angonia, with the purpose of bringing banking services to the farmers of tobacco. In Nampula, 3 villages are covered at the moment, bringing services to the general population and government workers in the areas. Since the mobile banks started working BCI has registered a strong demand by clients for these mobile branches, both from the villages and from the surrounding areas.

BIO provided a USD 15 million loan in 2013 to BCI to grow the Bank’s SME portfolio. Read more on BIO’s investment in BCI here.