Mozambique: Chapo praises central bank for ensuring monetary stability – AIM

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Mozambique: Chapo praises central bank for ensuring monetary stability – AIM

7:27 CAT | 20 May 2025

Photo: Presidency

Mozambique has recorded monetary and exchange rate stability despite the challenges imposed by the current conjuncture, Mozambican President Daniel Chapo declared on Saturday.

Speaking at a Gala dinner celebrating the 50th anniversary of the foundation of the Bank of Mozambique, Chapo said that, over the past five decades, the central bank “has shown that monetary stability is possible. Today the country has inflation under control, and has robust international reserves, despite all the adversities, the floods, the cyclones and Covid-19. The Bank of Mozambique remains robust”.

Chapo said that financial inclusion has ceased to be a target and has become a reality. The witnesses to this “are the millions of Mozambicans throughout the country who have gained access to banking services, microcredit and mobile payments that are transforming lives and strengthening communities”.

Since its foundation, said the President, the Bank of Mozambique has passed through regional crises, fluctuations in commodity prices, and frightening debts. “But each crisis was a teacher for each of us”, he claimed. “We learnt the importance of prudential supervision, and of financial transparency and literacy, which are the supports of a resilient system, capable of protecting citizens”.

For the present cycle of governance (2025-2029), Chapo pointed to the structural transformation of the economy as one of the pillars for attaining economic independence through interventions that lead to self-sufficiency, financial autonomy, the control of natural resources, improvements to the trade balance, and diversification of the economy.

He warned that achieving these goals will partly depend on preserving price stability and promoting a robust and inclusive financial system, combined with sustainable economic growth.

Chapo said the government is committed to “a strong metical for a strong Mozambique, and a visionary Bank of Mozambique for a country on the rise”.

He wanted to see “the Bank of Mozambique in the vanguard of innovation, with instant payments, smart platforms, and algorithms that sound the alert even before the risks arise”.

This, Chapo added, was a dream “of living in a Mozambique where each citizen, in an urban centre or in the most remote village, uses a mobile phone as a gateway to safe and inclusive financial services”, and where “a resilient and green economic system finances clean energy, and sustainable infrastructures and projects which reconcile profit with social responsibility”.

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