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, the Bank of Mozambique justifies the appointment by the need to strengthen the monitoring of Absa Bank Mozambique.

According to the statement, the resident inspector will, among other tasks, monitor the bank's business model and strategy, monitor and analyze developments in the bank's internal control system, and participate in relevant meetings of the collegiate bodies.

Despite this supervisory action, the Bank of Mozambique says that Absa Bank Moçambique remains solid and stable.