Absa Bank Mozambique argues that strengthening transparency and ethics in the national financial system is essential to boost investor confidence and ensure sector stability, at a time when the country deepens its financial integration and adopts new technologies.
The institution believes that a culture of compliance — or regulatory compliance — should no longer be seen as mere rule-following but become part of the strategic operating model of financial institutions.
“Investors are increasingly attentive to aspects such as integrity, traceability, and governance. Mozambique needs to consolidate a financial culture based on good practices, from leadership to customer service,” the bank said in a statement sent to the press. Absa emphasizes that the evolution of the national financial system, driven by digitalization and international demands, requires banks to invest in internal training, technology adoption, and effective control mechanisms. In this regard, it highlights the role of institutional leadership in promoting a culture of integrity.
In Mozambique, strengthened supervision rules by the Bank of Mozambique, the introduction of data protection standards, anti-money laundering measures, and Environmental, Social, and Governance (ESG) reporting are creating a more demanding but also more attractive environment for investment.
For Absa, technology is an ally of compliance. Tools such as digital identity verification (KYC), automated transaction monitoring, and real-time reporting systems have enabled greater efficiency and reduced margins of error.
However, the institution warns of the need for balance: overly complex rules can hinder access to financial services for small businesses and low-income populations. The bank advocates proportional solutions, adapted to the local context, that promote inclusion without compromising system security.
In the African context, Absa highlights the role of regional organizations, such as SADC, in harmonizing rules and cooperation among regulators, especially with the progress of the African Continental Free Trade Area (AfCFTA).
“Compliance is not a barrier to growth; it is a condition for that growth to be sustainable,” said Absa. “Investing in a culture of ethics and transparency is investing in trust — and trust is the foundation of any solid financial system.”
Source: Further Africa
