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With a coastline of 2,470 km facing the Indian Ocean, Mozambique can give Australia a run for its money with its diverse and fascinating beach experiences ranging from tropical, wild, adventurous and world class. Since 2001, Mozambique has showcased one of the most consistently high Real Gross Domestic Product (GDP) growth rates in the world of above 7% Real GDP, with impressive growth in sectors like tourism, natural resources that include gas and oil, and agriculture.
Mozambique ranks Australia as its 20th highest source for imports which accounts for about 0.7% of its total imports. The total merchandise trade, imports and exports included, is almost AUD$0.5 million, with the trade in services much higher at AUD$43 million in total. Australia also has an investment of AUD$29 million in Mozambique.
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Jonathan is a businessman in the gas and oil industry and has recently heard about the niche opportunities in Mozambique regarding these industries. Should there be potential in this industry in Mozambique, he might open necessary local bank accounts and work through a Paypal service to get money there.
As a second option, he compares different companies for sending money to bank accounts and for cash pickups in Mozambique. He uses a comparison amount of AUD$1,000 and gets the following data below.
| Money transfer company A | Money transfer company B | |
|---|---|---|
| Exchange rate | 1 AUD = 34.46095 MZN | 1 AUD = 32.3642 MZN |
| Transfer fee | 10 AUD (if under 10,000 AUD) | 70 AUD |
| Amount of MZN received in Mozambique for 1,000 AUD | 34,460.95 MZN | 32,364.23 MZN |
| Transfer time | 2 to 4 days | Minutes |
| Transfer options | Online, phone | Online, phone, agent |
| Difference in MZN |
|
|
Today's exchange rate AUD to MZN
You can use Compass Global Markets, MoneyGram and Western Union to send money to Mozambique from Australia.
The Citibank Plus account supports the MZN currency, but a visit to a branch will be necessary to know whether it is only for card purchases in Mozambique or whether it supports an international money transfer to Mozambique.
Paypal supports the Mozambique market, please see below in the article on the steps for a Paypal account holder to receive money in Mozambique.
There are two companies available to use when you are in need of emergency cash. Both MoneyGram and Western Union have years of experience in delivering money transfers and will get you a cash transfer within minutes.
Use the agent locations, detailed below, as a starting point and work through customer support to see if your destination can also receive a cash transfer for you to pickup.
Back to topTourists and foreigners are advised to move around with a high degree of caution in Mozambique. Avoid picking up cash in the dark and if possible, keep travel to daytimes. Serious cases of crime, which include sexual assault, robberies, petty theft and bag snatching, have been reported. It is wise to move in groups and pay close attention to your personal security when picking up cash.
Public demonstrations still occur in Mozambique and it is best to pick up cash in an area where these can be avoided in your travels. Use the locations above as a starting point and choose your cash pickup location close to professional environments and tourism hotspots.
Back to topSend money to a recipient using a money transfer service or cash pickup service:
If you are sending money to a bank account, the following details are important:
If you are using Paypal, you will need the following:
MasterRemit allows you to transfer your money quickly in a range of currencies.
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