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Rogério Zandamela Assures That BoM Is “Not Afraid of Being Audited”

Rogério Zandamela Assures That BoM Is “Not Afraid of Being Audited”

The governor of the Bank of Mozambique (BoM), Rogério Zandamela, said that the institution he heads ‘is not afraid of being audited’, adding that the auditing process is important to demonstrate the transparency of the accounts.

‘The bank’s accounts are audited, and this is very important. The bank is not a ‘black box’ where nobody knows what’s in it. That doesn’t exist. Our accounts are audited by an external, independent auditor. And the accounts are published,’ he explained.

The reaction came after the ruling Front for the Liberation of Mozambique (Frelimo), which has a qualified majority in Parliament, last week rejected an opposition proposal to include the BoM in the list of institutions to be audited by the Administrative Court (TA).

Speaking on Monday (27) during the press conference announcing the measures taken by the Monetary Policy Committee (CPM), the leader emphasised that the 2023 accounts have already been published, with transparency.

‘Whether or not the TA should audit our accounts is not up to us. We’re not afraid of audits, we work with the law,’ he emphasised.

Zandamela considered that the Assembly of the Republic was ‘visionary’, because it gave the BoM the instruments to be able to operate with the speed, flexibility, autonomy and operational independence it needs, preventing the regulator from justifying inaction.

In April, the non-governmental organisation (NGO) Centre for Public Integrity (CIP) accused the government of trying to ‘restrict the powers of the Administrative Court in overseeing public accounts’.

‘The proposal to exclude the Bank of Mozambique from TA oversight is unconstitutional and problematic, since this is crucial to ensure that the central bank operates in accordance with established laws and regulations, in order to prevent corruption and abuses of power,’ the CIP argued.


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