The number of adults with bank accounts grew by 1.5% in the fourth quarter of 2024, from 32.5TP3T to 33%, according to data from the Bank of Mozambique report. The report, which is cited in the "O Pais" publication, indicates that the growth is driven by factors such as the introduction of the basic bank account,...
The volume of exports to the rest of the world earned Mozambique 6.1 billion dollars during the third quarter of 2024, which is equivalent to an increase of 218 million compared to the same period in 2023. The data contained in the quarterly Balance of Payments (BoP) bulletin, released last Friday (21),...
In the third quarter of 2024, Mozambique saw an increase of 44.7% in the flow of Foreign Direct Investment (FDI), totaling 2.7 billion dollars when compared to the same period in 2023. According to the data contained in the quarterly Balance of Payments (BoP) bulletin, released last Friday (21) by the Bank of Mozambique...
The Bank of Mozambique (BM) announced this Thursday (06) that it had sanctioned nine credit institutions and financial companies with fines for violating prudential rules, preventing and combating money laundering and terrorist financing, foreign exchange and consumer protection of financial products and services. The sanctions, according to a...
The Monetary Policy Committee (CPMO) of the Bank of Mozambique decided today to lower the MIMO monetary policy interest rate from 12.75%, in force since the end of November, to 12.25%. "In addition, the CPMO decided to reduce the mandatory reserve coefficients for liabilities in national currency, from 39.0% to 29.0%, and in...
The Mozambique Sovereign Fund (FSM), the state entity that will be responsible for managing revenues from natural gas from the Rovuma basin in Cabo Delgado province, is still inoperative. Created a year ago by Law No. 1/2024, of January 9, the Sovereign Fund is still in a "water bath" due to the lack of...
The Bank of Mozambique (BdM) and the Mozambican Banking Association (AMB) have set the Prime Rate for credit institutions at 19% for the month of January, down from 19.7% in December. This rate in the Mozambican financial system is the only...
Banco de Moçambique has just appointed Osvaldo Benedito Chiluvane, a senior staff member of the institution, as resident inspector of Absa Bank Moçambique, with effect from December 18, 2024. In a statement sent to our newsroom, Banco de Moçambique justifies the appointment by the need to strengthen the monitoring...
Banking activity in Mozambique, measured by total assets, stood at 961.68 billion meticais in June 2024, which represents annual growth of 8.38% compared to the same period in 2023, and 4.70% compared to the previous six months. According to the Bank of Mozambique's (BdM) financial stability bulletin, released yesterday...
The Monetary Policy Committee (CPMO) of the Bank of Mozambique (BdM), which decided this Wednesday (27) to reduce the monetary policy interest rate, MIMO rate, from 13.50 % to 12.75 %, warns that the pressure on domestic public debt remains high. "The domestic public debt, excluding loan and lease agreements...