Mozambique plans to join the SADC regional real-time payments system in the first quarter of 2027, a move expected to reduce costs and accelerate commercial transactions with neighbouring countries, Banco de Moçambique Governor Felisberto Navalha announced, as quoted by the Lusa news agency.
Speaking at the close of the Monetary Policy Committee (CPMO) meeting held in Maputo, Navalha said Mozambique is finalising preparations to join the SADC Real-Time Gross Settlement (RTGS) system, which is hosted by the South African Reserve Bank.
“It considerably reduces transaction time. It reduces transaction costs and effectively makes regional trade increasingly fluid,” he said.
Cross-border payments
The integration is expected to facilitate commercial operations primarily with South Africa, Mozambique’s principal regional economic partner. Currently, the settlement of rand-denominated payments depends in many cases on commercial banks holding the currency in advance, which can cause delays and additional costs.
“Today, when you go to your branch to pay an invoice for an import from South Africa, the bank first has to confirm whether it — the bank itself, internally — has rands. Sometimes we then come back to the issue of there being no foreign exchange available,” Navalha explained.
“It considerably reduces transaction time. It reduces transaction costs and effectively makes regional trade increasingly fluid” — Felisberto Navalha
With Mozambique’s integration into the SADC RTGS, a customer will be able to request settlement of a South African invoice directly at their local bank, with the amount debited in meticais and the transaction processed through the regional platform.
“On this platform, the customer goes to their bank, arrives at their bank, expresses interest in settling an invoice in South Africa, the transaction occurs immediately — their account in meticais is debited and settlement is made via the SADC RTGS in Johannesburg,” he said.
Angola already on board
The system already incorporates the South African rand and, since July, the Angolan kwanza, which became the second regional currency to join the platform. The Mozambican metical and the Botswana pula are among the currencies earmarked for integration.
According to Navalha, countries are joining the system on a gradual basis, with the objective of expanding real-time cross-border payments and reducing dependence on financial intermediaries and correspondent banks.
“We believe other countries are at the front of the queue and we do not want to be left behind. We believe that in the first quarter of next year we will already be integrated into the platform,” he said.
Before going live, Mozambique is expected to complete the technical and financial procedures required for participation in the regional system.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/10/01/economia/banca/mocambique-prepara-entrada-no-sistema-de-pagamentos-da-sadc-em-2027/
