President Daniel Chapo has challenged the Bank of Mozambique (BdM) to help create better financing conditions for the economy, arguing that macroeconomic and financial stability must translate into greater credit availability for production, investment, employment and development.
The challenge was issued on Tuesday in Maputo, during the inauguration ceremony of Felisberto Navalha as the new Governor of the BdM. Speaking at the event, the head of state said that economic stability should not be treated as an end in itself, but as a foundation for stimulating productive activity and ensuring that businesses and households benefit from a more efficient financial system.
Chapo identified agriculture, industry, tourism, transport and logistics, small and medium-sized enterprises, as well as young people and women entrepreneurs, among the segments requiring improved access to financing.
While acknowledging that it is not the central bank’s role to determine to whom commercial banks should extend credit, the President argued that the institution must create conditions for a sound, competitive and transparent financial system capable of supporting the real economy.
Access to foreign exchange was also identified as a priority. Chapo acknowledged that economic operators continue to face difficulties in obtaining foreign currency for the importation of raw materials, equipment and other goods necessary for business activity. According to the President, resolving the foreign exchange shortage also requires increasing domestic production, diversifying exports, locally processing natural resources and attracting greater productive investment.
The growth of domestic public debt was another area of concern. Chapo warned that the government’s frequent recourse to the domestic market risks putting upward pressure on interest rates and crowding out resources available to finance the private sector. In this context, he called for greater coordination between the Bank of Mozambique, the Ministry of Finance and the financial system, particularly in the management of liquidity and the state’s financing requirements.
The President also stressed the importance of keeping inflation low and stable, maintaining the credibility of the national currency, deepening the foreign exchange market and accelerating financial inclusion and the digitalisation of services. Chapo argued that the financial system must reach beyond major urban centres, enabling rural producers, small businesses and new entrepreneurs to access instruments capable of financing their projects.
To the incoming Governor, the head of state also recommended preserving the operational independence of the Bank of Mozambique, accompanied by stronger institutional coordination, transparency and technical rigour in the conduct of monetary policy.
Felisberto Navalha succeeds Rogério Zandamela, who led the Bank of Mozambique for ten years. Chapo challenged the new leadership to preserve the gains achieved, address existing constraints and modernise the institution to meet the needs of a transforming economy.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/09/02/economia/banca/pr-desafia-banco-de-mocambique-a-facilitar-financiamento-a-economia/
