This Friday morning (16), the Governor of the Banco de Moçambique, Rogério Zandamela, gave the opening speech at the XIV Scientific Seminar of the institution at Montebolo Indy Maputo Congress Hotel, on the same day of the Metical's 43rd anniversary. 

While speaking, Rogério Zandamela mentioned that the theme “Opportunities and Risks of Economy Digitalization for Mozambique” elected for this edition reflects the importance of technological innovation as a catalyst towards financial inclusion, since it enables the expansion of access to financial services in a more inclusive and efficient manner, at competitive prices for consumers, especially those in rural areas.  

According to the Governor, despite the aforementioned gains, technological innovation entails risks that place the central bank and the financial system in general before a dilemma that can only be overcome by proper balance between the inherent risks and benefits, amid the exponential rise and advancements in crimes.

Zandamela also noted that a strong answer to risks and uncertainties shall fall under collective engagement, grounded on mutual collaboration, sharing of knowledge and experiences and ongoing training of human capital, given the speed at which crimes of such nature spread and transform. 

On the occasion, the Governor shared some actions by the Banco de Moçambique relating to  digitalization, highlighting the implementation of interoperability between mobile money networks operating in the country, the regulatory Sandbox, the creation of the digital transformation program management commission, and a multi-departmental working group to collect experiences on digital currency issued by central banks.

Wrapping up, Rogério Zandamela said that he hopes that the results of the research carried out for this edition foster further research, so as to contribute towards improving the process of drawing up policies concerning the event's theme.

It should be noted that the event's keynote speaker Maxwell Opoku-Afari, First Deputy Governor of the Bank of Ghana, will share Ghana's experience with economy digitalization, as well as the inherent opportunities and risks.

For this edition, the jury selected three research papers, namely “Impact of Digital Transformation on the Performance of Small and Medium-Sized Enterprises in Mozambique”, by José Ngale and Gilberto Ngale; “Digital Currency of the Central Bank and its Implications for Financial Stability: the Case of Mozambique”, by António Chichava ; and “Analysis of the Implications of Digitalization in the Steering of Monetary Policy in Mozambique and Prospects for the Introduction of Digital Currency issued by the Central Bank”, prepared by Aurélio Bucuane, a bank employee.

In attendance at the event were the Deputy Minister of Economy and Finance, Amílcar Tivane, BM Board Members, former Deputy Governor of the Bank, Victor Gomes, representatives of public institutions, academic and research centers, credit institutions and financial companies, managers and employees of the Bank.