Bank of Mozambique facilitates foreign and international investment

The Bank of Mozambique recently announced the removal of obstacles to foreign investment and investments by Mozambican citizens living abroad, increasing the annual limit to one million dollars without the need for prior authorisation.

These changes, stemming from new exchange regulations already in force, aim to facilitate foreign investment in the country and investments by residents abroad. They also seek to simplify international trade by making exchange operations more flexible through the gradual liberalisation of the capital account.

According to the Bank of Mozambique, the amounts for Foreign Direct Investment and other transactions that do not require prior authorisation have been increased from 250,000 to one million dollars a year. It also established the obligation to use the national currency in all domestic transactions and the harmonisation of the different exchange rate regimes, especially in mining and hydrocarbon projects, without compromising existing commitments.

The changes to the Foreign Exchange Law and the rules for foreign exchange operations are intended to speed up transactions, attract more foreign capital, increase the availability of foreign currency, increase the value of the national currency and create a stable and robust foreign exchange market. The Central Bank is strengthening its role as foreign exchange authority, ensuring timely regulations to correct possible distortions in the market.

The Oporto Forte Group, with a presence in more than 10 countries, including Mozambique, and projects in more than 30 countries, welcomes Banco de Moçambique's vision. If your company is interested in doing business in Africa, talk to us.