Mozambique's Moza Banco: Central Bank Intervention Justified After Disclosure

• Moza Banco has published its interim accounts, marking a shift towards greater transparency in Mozambique.
• The central bank released detailed figures to justify its 2016 intervention in Moza Banco.
• Public procurement notices have become more visible due to pressure from donors and lenders.
• Commercial banks are now publishing their accounts as required by law.

Late and contested disclosure beats silence. It is not exemplary accountability.

In recent weeks, Mozambicans have been given access to a significant amount of financial information, marking a shift towards greater transparency in the country. Moza Banco has published its interim accounts, while the IGEPE website now carries the 2025 reports and accounts of various state-owned and state-controlled companies. The sovereign wealth fund has also started reporting its market value, and the central bank recently released detailed figures to justify its 2016 intervention in Moza Banco. Additionally, public procurement notices have become more visible due to pressure from donors and lenders, and commercial banks are now publishing their accounts as required by law.

Much of the recent disclosure is mandated by law, regulation, or international support conditions. For instance, public procurement notices have become more transparent due to sustained pressure from donors and lenders. Sovereign wealth fund reporting is a legal safeguard, not a favor granted by the central bank. Commercial banks publish their accounts because it is a requirement for the financial system's functioning. The improvement lies in institutions consistently complying with these regulations and the public having access to more information to hold them accountable.

The recent disclosure of Moza Banco's accounts may indicate a shift towards greater transparency in Mozambique, but it is essential for lawyers and compliance officers to review this development carefully. The central bank's explanation for its 2016 intervention in the bank was only provided after questions at a press conference, highlighting potential issues with accountability. The public can now weigh both sides of the story, including Moçambique Capitais' ongoing dispute regarding the legality of the 2016 intervention in Moza Banco, which the Administrative Court declared null and void in April 2025. Late and contested disclosure may be better than silence, but it is not exemplary accountability.

Lawyers and compliance officers should review the recent disclosure of Moza Banco's accounts, which may indicate a shift towards greater transparency in Mozambique. They should also be aware that the central bank's explanation for its 2016 intervention in the bank was only provided after questions at a press conference, highlighting potential issues with accountability.

Source: Original reporting via Briefly