Today (2 September), the President of the Republic, Daniel Chapo, swore in Felisberto Dinis Navalha as Governor of the Banco de Moçambique at the Great Hall of the Presidency of the Republic.

Governor Felisberto Navalha succeeds Rogério Zandamela, whose term of office ended on 31 August.

Speaking on the occasion, Daniel Chapo stated that Governor Felisberto Navalha was returning to an institution he knows well and taking on a high-level responsibility entrusted to him by the Mozambican State, at a time when the country has identified economic independence as one of its key challenges.

“We have begun a new cycle of laying the foundations for Mozambique’s economic independence, not in isolation, but based on cooperation with other States, the promotion of domestic and foreign trade, the use of technology to foster greater financial inclusion, and increased production and exports, in order to create more jobs for women and young people, who make up the majority of our population,” said the Head of State.

Daniel Chapo underscored the need for greater coordination among the various strategic sectors of the national economy to ensure greater effectiveness of monetary policy and advance economic independence.

“A transparent and credible monetary policy does not mean isolation, nor does it mean that monetary policy is a panacea for all the country’s problems. Multisectoral coordination is essential, particularly with fiscal policy, so that the structural transformation of our economy can take place sustainably, enabling prudent management of public debt and facilitating access to credit for the real sector of the economy.”

The President of the Republic expressed his expectation that the Banco de Moçambique would play a key role in promoting not only economic growth but also development, stressing that “behind macroeconomic indicators are families, businesses and workers who need a stable currency that protects their purchasing power and well-being.”

Addressing Governor Felisberto Navalha, the President of the Republic stated that “promoting macroeconomic stability requires transparency, rigour, credibility, competence and a sense of public duty,” as only in this way “will macroeconomic stability provide a solid platform for investment, savings, increased production and exports, creating more jobs and, ultimately, improving social well-being.”

Daniel Chapo also expressed his appreciation for the patriotism demonstrated by former Governor Rogério Zandamela, highlighting his notable contribution to the Mozambican State during an extremely challenging period “marked by exchange rate pressures, climate shocks, COVID-19 and the Russia-Ukraine war, which disrupted global supply chains, particularly fuel supplies.”

The swearing-in ceremony was attended by members of the Government, the Board of Directors of Banco de Moçambique and the Presidential Consultative Council.

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