The process of submitting applications to become a member of the Supervisory Committee of the Sovereign Fund of Mozambique (SWF) began on Wednesday 12 June. According to a publication by the Agência de Informação de Moçambique (AIM), candidates must be national citizens of integrity, of recognised moral merit, with proven professional experience, of legal age and with the probity to carry out their duties in accordance with the legislation.
Quoted by the news agency, the chair of the selection committee, Victoria Diogo, explained that the applications, which comprise a series of documents, should be addressed to the President of Parliament, Esperança Bias, adding that after this process, a report will be drawn up to be submitted to the Mozambican Parliament by 30 June.

“Candidates must also attach a declaration of acceptance of candidacy, their identification document, criminal record certificate, curriculum vitae and a certified copy of their academic qualifications,” she said.
Diogo added that “the documents will be analysed in detail and those shortlisted will be invited to a face-to-face interview”.
The composition of the Sovereign Fund Supervisory Committee includes two members from Civil Society Organisations; the same number (two) of representatives from academia; two from religious associations of recognised merit; one representative from the business community; one representative from the Mozambique Order of Accountants and Auditors; and one representative from the Mozambique Order of Lawyers.
The Supervisory Committee is an independent body, which should be made up of representatives from civil society, the business community, academia, professional bodies and religious associations of recognised merit and national scope.
The body, which reports to Parliament, will be made up of nine members, all appointed by the Assembly of the Republic, and each member will have a three-year term of office, renewable only once.
The tasks of the WSF Supervisory Committee are to control and monitor matters relating to revenue; deposits in the transitional account; the allocation of revenue to the State Budget and to the Fund; and to supervise the management of the WSF.
“Candidates must also attach a declaration of acceptance of candidacy, identification document, criminal record certificate, curriculum vitae and a certified copy of their educational qualifications”
In addition to a Supervisory Committee, the Sovereign Fund, to be managed by the Bank of Mozambique, will also have an Investment Advisory Board, a body that consults the government on the WSF’s Investment Policy, which will be made up of seven members, including financial experts and independent members of the Executive, with experience in managing investment portfolios. They must also have held executive positions in companies in the financial sector, including public companies, the Bank of Mozambique or international financial organisations, or be or have worked as academics in universities or higher education institutions.
In the first quarter of this year, the state collected 5.9 billion meticals (94.2 million dollars) in revenue from oil and natural gas exploration, which was fully invested in Mozambique’s new Sovereign Fund.
According to data from the economic and social balance sheet on the implementation of the State Budget from January to March, the accumulated revenues include 73.37 million dollars (4.6 billion meticals) from 2023, 800 thousand dollars (50 million meticals) from 2022 and 20 million dollars (1.2 billion meticals) from the first quarter of this year.