Xtenda Finanças Moçambique is a microfinance institution offering payroll backed loans to Government employees. The company commenced operations in March 2019 and is regulated by the Bank of Mozambique under the Microfinance Regulation, Notice 57/2004. It operates under a General Savings and Credit Microfinance license issued by the Bank. Xtenda Mozambique has its head office located in downtown Maputo.
Xtenda Mozambique is a subsidiary of Xtenda Financial Holdings Limited (XFHL) - a Mauritius-registered retail financial services group that offers a range of financial products and services to the retail market, which is often overlooked by the financial banking sector.
Xtenda Mozambique only disburses loans to civil servants, and gets repayments using the salary deduction methodology to collect monthly instalments.
Financial assistance generally ranges between MZN1,000 and MZN1,750,000 with loan periods of between 3 and 72 months. The loan period is determined by the client and the cost of the loan is subject to current market trends, where Xtenda offers a competitive advantage to similar facilities offered by other recognized financial institutions in the market.
Xtenda Financial Holdings Limited (XFHL) is a Mauritius-registered retail financial services group offering a range of financial products and services to the retail market, which is often overlooked. The group began operating in late 2015.