Mozambique: Central bank governor defends transparency in public asset management

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Mozambique: Central bank governor defends transparency in public asset management

9:59 CAT | 01 Feb 2016

O País (File) / Ernesto Gove

The Governor of the Bank of Mozambique, Ernesto Gove, argues that transparency in public asset management is good for the business environment, and says that lack of transparency fosters corruption, damages the business environment scares away investment.

“Lack of transparency slows a country’s progress and creates problems for investors. The investor needs to know what the unit cost of production of goods in the country is, and not whether or not, in the investment process, he is expected to pay ‘kick-backs’ to so-so for the process to be approved. Because, if we do this, and we are in competition with other countries, Mozambique may not be the target of the investment we wish to see,” the central bank governor said on Saturday at the close of the institution’s 40th advisory council sitting.

Gove also argued that it was necessary to direct financial resources to priority, strategic sectors.

“The energy sector is without doubt a priority. It is necessary that resources are directed to what we select as priorities, and from what we gather, it seems that this is the case,” he said.

Source: O País