Former prime minister and economist Adriano Maleiane has called on countries to diversify their resource-mobilisation mechanisms to finance development, citing the pressures of globalisation and the imperative of meeting the United Nations Sustainable Development Goals (SDGs).
Maleiane made the remarks on Thursday, 24 July, in Maputo, at the launch of the book "Introduction to Islamic Finance: Principles, Contracts and Intermediation Models" by Janfar Abdulai and Carino Modan, for which he wrote the afterword.
In his address, Maleiane argued that the current international environment is compelling countries to revisit the principles, values and methods through which they finance development. "This global village, born of globalisation, is pushing all countries to revisit their principles, their values, and also the way they mobilise resources to finance development," he said.
According to the economist, globalisation has created a reality of deepening interdependence among nations that nonetheless continue to hold divergent principles, values and priorities. "Imagine the enormous difficulty of managing 8.4 billion people, each with their own principles and values. Looking at this, countries need to adapt their mechanisms without losing sight of the reality of a globalised economy," the former prime minister said.
Maleiane also addressed the financing challenges posed by the 17 SDGs, which the United Nations has set a target of achieving by 2030. In his assessment, while the goals establish targets relating to the reduction of inequality and the improvement of living conditions, their realisation demands significant financial resources.
"In practice, it shows that these 17 development objectives are a kind of expenditure that countries must incur in order to implement them. However, what capacity do countries actually have to mobilise the resources needed to meet the established targets?" he asked.
As an illustration, he pointed to the first goal, relating to the eradication of poverty. "Goal 1, zero hunger. This is very vague. Investment is required. There is no budget, no clear financing mechanism," he said, arguing for the need to identify instruments capable of complementing available public resources.
The economist recalled that, since the adoption of the SDGs, countries have been called upon to strengthen domestic resource mobilisation — notably through improvements in tax policy and the combating of smuggling and capital flight. He nonetheless argued that such efforts alone are insufficient to secure the financing required to meet development targets.
It was in this context that Maleiane framed the relevance of Islamic finance and of the work launched in Maputo. The book, he explained, "contributes to broadening knowledge about alternative financing mechanisms and about models grounded in participation, outcomes and risk-sharing."
"The book contributes to broadening knowledge about alternative financing mechanisms and about models grounded in participation, outcomes and risk-sharing" — Adriano Maleiane, former prime minister and economist.
The former prime minister further noted that certain principles of participatory finance are already embedded in Mozambican legislation. "In our legislation, participatory finance is already provided for," he said, explaining that credit institutions, including the Bank of Mozambique, can establish structures or units to develop products based on these principles within the applicable regulatory framework.
He therefore considered the publication to be a meaningful contribution to the debate on new forms of development financing in Mozambique.
In his capacity as afterword author, Maleiane joined Janfar Abdulai and Carino Modan in presenting a work dedicated to the principles, contracts and intermediation models of Islamic finance, with particular attention to its potential application in the Mozambican context.
Adriano Maleiane is an economist who served as Prime Minister of Mozambique between 2022 and 2025, during the presidential term of Filipe Nyusi. Prior to heading the government, he served as Minister of Economy and Finance and as Governor of the Bank of Mozambique.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/09/25/economia/ex-pm-defende-diversificacao-dos-mecanismos-de-financiamento/
