The Government on Wednesday, 27 May, certified the country’s first 49 insolvency administrators, stating that these professionals will play a central role in restoring confidence in the economic and legal system, as well as in protecting companies, creditors, and investors, according to the Lusa news agency.
According to the report, the swearing-in ceremony took place in Maputo and was led by the Minister of Justice, Constitutional and Religious Affairs, Mateus Saize, who highlighted the strategic importance of the new professional class for the national business environment.
“Your mission goes far beyond managing insolvency and company recovery cases. You will be guardians of confidence in the economic and legal system,” the minister said.
According to Mateus Saize, the work of these professionals may help save viable companies, protect investors, and ensure a faster, more transparent, and fair application of the law. “Through your work, you will be able to save viable companies, protect creditors and investors, and contribute to building a healthy and competitive business environment.”
The 49 certified administrators are the first professionals formally trained, registered, and recognised by the Ministry of Justice, through the Legal and Judicial Training Centre (CFJJ), with technical and financial support from the World Bank.
“Through your work, you will be able to save viable companies, protect creditors and investors, and contribute to building a healthy and competitive business environment”
Mateus Saize
The selected professionals come from the fields of Law, Accounting, and Economics.
During the ceremony, the minister called on them to perform their duties with integrity, transparency, and impartiality, describing the moment as a “historic turning point” for the modernization of the justice system and the business environment in Mozambique.
“The official recognition of insolvency administrators is not merely an administrative formality. It represents a firm step in protecting the interests of creditors and the viability of Mozambican companies,” he stated.
“The appointment of an insolvency administrator is essential to ensure legality, transparency, and impartiality in insolvency and corporate recovery processes,” he explained.
The minister also added that the Ministry of Justice will be responsible for certifying, registering, and supervising the activity of these professionals, ensuring the credibility and effectiveness of the processes.
The Government also announced plans to promote annual training for new insolvency administrators, given the growing need for such specialists in monitoring financially distressed companies.
According to the Executive, administrators will be appointed by courts to oversee judicial recovery and bankruptcy proceedings.
