The Chairman of the Organizing Committee of the 3rd edition of the BFSI Mozambique conference, Kekobad Patel, on Wednesday, the 17th, challenged the financial sector to play a more structured and effective role in the country’s digital transformation, strengthening system integration, data protection, and the inclusion of small and medium-sized enterprises (SMEs) in the formal system.
Patel stated that Mozambique is at a decisive moment, where digital transformation has shifted from being an aspiration to a national urgency. In this context, he advocated for effective coordination among the State, financial institutions, regulators, and the technology sector, noting that the expression “there is no system” reflects a reality with real economic costs.
During his speech, he emphasized that the current diversity of systems — from banks to mobile wallets, insurance, and public services — is not a problem in itself, but the lack of interoperability between them hinders efficiency, inclusion, and economic growth. “A citizen who pays taxes through one channel cannot use that proof in another. An SME that moves funds via mobile wallet remains invisible to the formal banking system,” he explained.
The leader highlighted the importance of the national digital transformation architecture presented by the government, based on five pillars: digital certification, digital identity, interoperability, a single payments platform, and modern digital infrastructure. He called for a clear regulatory framework and accelerated implementation of existing technical solutions. Kekobad Patel also stressed that data sovereignty should be treated as a practical matter of governance and economic autonomy and noted that many users of digital financial services are unaware of how their data is collected, stored, or used, requiring greater transparency and protection.
In his address, he also underscored the urgency for the financial sector to approach SMEs in a more intentional and structured way, using technologies such as big data and artificial intelligence to develop products tailored to their realities. He reinforced that technological solutions already exist and that several institutions are capable of implementing them.
Finally, he emphasized that the success of digital transformation depends on three elements: shared vision, coordinated execution, and joint responsibility among the government, private sector, regulators, and civil society. “The country expects concrete actions. Mozambican citizens and businesses deserve systems that work,” he concluded.
The BFSI Mozambique conference runs from December 17 to 18 in Maputo, bringing together public decision-makers, financial institutions, insurers, fintechs, and technology companies to discuss practical solutions for a more modern, digital, and inclusive financial ecosystem.
Text: Felisberto Ruco
