Mozambique: NGOs call for central bank governor to step down after ATM fiasco

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Mozambique: NGOs call for central bank governor to step down after ATM fiasco

8:01 CAT | 23 Nov 2018

File photo: Lusa

Civil society organisations in Mozambique on Thursday called for the resignation of the governor of the country’s central bank, Rogério Zandamela, accusing him of arrogance in his handling of a blackout of the banking network’s electronic payment system.

“Rogério Zandamela’s public appearances have created uncertainty in markets and companies and show arrogance,” reads a statement released by five non-governmental organisations.

The bank governor handled the shutdown of automatic teller machines and point-of-sale terminals with a lack of seriousness and with high-handedness, given the damage caused to users, the document states.

The groups take the view that there is a conflict of interest because the Bank of Mozambique is a regulator and also a shareholder of Simo, the company that manages the electronic payments system.

“There is clearly an irreconcilable conflict of interest,” the statement reads. “Civil society organisations demand that transparency be restored in the management of the electronic system of Mozambique’s banks.”

ATMs and POS terminals were not working from Friday of last week to Wednesday this week, after the supplier of the electronic platform, the Portuguese company Bizfirst, cut off the service in the wake of dispute with Simo.
The system was restored after the Mozambican Association of Banks (AMB) reached an agreement with Bizfirst.

Source: Lusa