The selection process for candidates for the Supervisory Committee of the Mozambique Sovereign Fund (FSM), the public entity that will be responsible for managing the revenues from the exploitation of natural gas in the Rovuma basin in the northern province of Cabo Delgado, closes on Sunday 30 June.
According to information provided by the Assembly of the Republic, the selection committee set up by Parliament and made up of 11 deputies (from the three parliamentary benches) is due to present its report on the same date, with the respective candidates for the management body, who must be nationals 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 law.
Earlier this month, 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.
“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.
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 FSM 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 FSM.
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.
