The Government approved on Tuesday, June 2, a draft law establishing the legal framework for crowdfunding. The decision was taken during the 15th ordinary session of the Council of Ministers, held in Maputo, as part of measures aimed at strengthening the national financial system.
The proposed legislation sets out the legal regime governing crowdfunding activities, with the objective of diversifying access to financing for individuals and, in particular, micro, small and medium-sized enterprises (MSMEs). The measure is intended to support the country’s economic growth by facilitating access to capital.
According to government spokesperson Ussene Isse, the initiative creates new opportunities within Mozambique’s financial market.
“The law provides an alternative and greater efficiency for MSMEs, constituting a new financing mechanism to leverage our economy,” he said.
Crowdfunding is a model through which projects or organisations raise funds via electronic platforms. It enables the collection of small contributions from multiple individual investors, which collectively make it possible to finance initiatives that might otherwise struggle to secure funding.
In countries such as Portugal, crowdfunding is generally structured around four main models: donation-based, reward-based, equity-based and lending-based crowdfunding. Each model offers different forms of return to contributors, ranging from products or services to equity participation, profit-sharing or interest payments.
During the same session, the Council of Ministers also approved a resolution appointing Alfredo Mutombene, National Director for Fiscal and Financial Analysis, as a member of the Investment Advisory Board of the Mozambique Sovereign Wealth Fund, strengthening the composition of the body.
The Executive additionally dismissed Ângelo Macuácua from his position as Chairman of the Board of the Road Fund, following the institution’s dissolution as part of the ongoing restructuring of the road sector.
The Government also approved a decree amending paragraph 2 of Article 74 of the regulations governing the use of Mozambique’s national maritime space, originally approved by Decree No. 21/2017 of 21 May. The amendment aims to align the regulations with current developments and broaden the State’s revenue collection base.
Source: O Económico
