Most Mozambicans Still Pay in Cash. This New Debit Card Is Trying to Change That.

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Mastercard and Letshego have launched a new debit card in Mozambique, aiming to pull more people away from cash and into the country’s growing digital economy. The card was officially introduced on 6 May 2026 in Maputo, as part of a push to make everyday digital payments accessible to more Mozambicans.

Only about 22% of adults in Mozambique currently use digital payments, pointing to a large and underserved population that still relies on cash for most transactions.

The new Letshego Debit Card is backed by Mastercard’s global payments network, meaning customers can use it not just locally but internationally giving them a level of access that many have not had before.

The partnership uses Mastercard’s global network to allow customers to move away from cash-heavy transactions and build a verifiable financial history. The digital shift is expected to improve consumer safety and support local merchants by increasing acceptance of digital payments across the country.

For small business owners and everyday customers who have never had a formal payment card, this is more than just convenience. Having a digital transaction record can open doors to loans, insurance, and other financial services that typically require some proof of financial activity.

Gabriel Swanepoel, Division President for Africa at Mastercard, said the card gives consumers a reliable way to take part in the digital economy, describing it as a tool for building financial resilience in communities that have long been left on the margins.

Carlos Nhamahango, CEO of Letshego Mozambique, framed it as a personal milestone too. Noting the company’s 15 years of operating in the country, he said the card represents Letshego’s continued push toward meaningful local impact giving customers the ability to transact with confidence and work toward a more stable financial future.

Letshego Africa Holdings is a financial services group listed on the Botswana Stock Exchange and currently operating across 11 African markets. In Mozambique, Letshego has been licensed since 2011, starting as a microbank before upgrading to a full commercial banking licence in 2016. Its focus has been on serving individuals and small businesses, with an emphasis on responsible banking and financial inclusion.

Letshego was also the first institution in Mozambique to be granted Mastercard principal issuer status, which allows it to directly work with Mastercard to build out card-based financial solutions including the ability to sponsor other Letshego subsidiaries in Africa to apply for similar status.

The World Bank’s Global Findex 2025 report notes that while 79% of adults worldwide now have access to a financial account, more than a billion people remain excluded and digital payments are seen as one of the most effective pathways to bringing them in.

In Mozambique, where formal financial infrastructure is still catching up, a product like the Letshego Debit Card is a small but concrete step toward a system where more people can save, spend, and build a financial life of their own.