The week was marked by the implementation of new financial regulations, progress in infrastructure investment projects, a slight reduction in inflation and the launch of a programme to check the quality of imported products. The measures and projects announced reflect an effort by the authorities to improve the economic environment and ensure consumer protection.
Reinforcement of Capitalisation Rules
The Bank of Mozambique (BoM) approved Notice 11/GBM/2024, of 30 August, which establishes a minimum share capital of 30 million meticals (approximately 475,000 dollars) for mutual guarantee companies and loan guarantee fund management companies.
The aim of this measure is to strengthen the capacity of these organisations to support the financing of micro, small and medium-sized enterprises (MSMEs).
The document emphasises that mutual guarantee companies aim to facilitate access to credit for MSMEs by offering guarantees and counter-guarantees that reduce the risk for creditors.
At the same time, the Mutual Guarantee Fund was created, with an initial capital of 1.9 billion meticals (30 million dollars), as part of the Package of Economic Acceleration Measures (EAP promoted by the government, to reduce the financing difficulties faced by small and medium-sized companies.
Advances in the Water Sector
The Water Supply Investment and Heritage Fund (FIPAG) has secured 250 million dollars for the Urban Water Supply Investment Programme, which has a total budget of 1.8 billion dollars. This information was revealed by Sérgio Cavadias, FIPAG’s new director-general, during his swearing-in ceremony in Maputo.
Cavadias said that FIPAG is negotiating with co-operation partners to secure a further 300 million dollars.
Among the priorities are improving billing and collection, as well as adopting technical solutions to ensure the sustainability of supply systems and user satisfaction.
This investment programme also aims to align the water sector with the Sustainable Development Goals (SDGs), including universal access to water by 2030.
Inflationary trends on decline
Figures released by the National Statistics Institute (INE) indicate that year-on-year inflation in Mozambique fell to 2.75 per cent in August 2024, down from 2.97 per cent in July.
In monthly terms, the country registered deflation of 0.11% in August, the third consecutive deflation this year. The drop was mainly influenced by the reduction in prices for ‘Food and Non-Alcoholic Beverages’, with products such as onions (-10.0%), cabbage (-10.6%) and lettuce (-7.4%) standing out.
On the other hand, products such as corn grain (12.0%) and lemons (48.6%) recorded price increases, contributing to a positive monthly variation.
Accumulated inflation from January to August was 1.04%, with the food and drink and catering categories having the greatest impact on this variation.
Quality in Focus: New Programme for Imported Products
This week, Diário Económico interviewed Geraldo Albasini, director-general of the National Institute for Standardisation and Quality (INNOQ), about the new Conformity Assessment Programme (CAP), recently introduced by the government.
According to Albasini, the CAP requires all products imported into Mozambique to be checked and certified before they are shipped to their countries of origin, with the aim of ensuring that they meet the quality and safety standards demanded by the Mozambican market.
The director-general explained that the programme was developed in response to the quality challenges detected by the National Inspectorate of Economic Activities (INAE), which identified the presence of low-quality products of dubious origin on the market.
‘The regulation establishes that all products subject to compulsory control must be assessed for conformity at the point of origin before being exported to Mozambique,’ said Albasini.
The CAP was approved by Decree No. 8/2022, of 14 March, and will be carried out by INTERTEK INTERNATIONAL LIMITED, the entity responsible for its implementation.
The programme is seen as a tool to protect consumers and guarantee the entry of safe and compliant products onto the national market, while at the same time promoting confidence in domestic consumption.
Felisberto Ruco
