Administrative Court prepares to review the management of the Sovereign Wealth Fund

Tribunal Administrativo prepara-se para fiscalizar a gestão do Fundo o Soberano

The Administrative Court (TA) guarantees that it is monitoring all the legislation on the Mozambique Sovereign Fund (FSM) in order to define how to act within its powers in terms of auditing public accounts.

According to the adviser to the Administrative Court, Sousa Massingue, who was speaking on a panel on strengthening the relevant institutions in the management of the GSF, as part of an international conference organized by civil society, the activities of the global and operational manager are subject to the TA's supervision.

Referring specifically to the regulation of the law creating the Fund, the source cited by the newspaper NewsHe stressed that, under this law, the judiciary will have the power to control the Sovereign Fund, managed by the Bank of Mozambique (BdM), as operational manager, but at the same time the overall manager, which is the government itself.

"Bearing in mind the principle of legality that guides the actions of the courts, the control of the BdM and the FMS will always be carried out within the framework of the powers conferred by the Constitution, the Organic Law of the Tax and Customs Administrative Jurisdiction, specific legislation, as well as in the precise terms established in the law approving the Fund and its regulations," he said.

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