The Mozambique Sovereign Wealth Fund (FSM) is a portfolio of financial assets managed in strict compliance with the principles, rules and procedures provided by Law.
The initial capital of the FSM allocated to Banco de Moçambique, in its capacity as Operational Manager, on 10 December 2025 by the Government, represented by the Ministry of Finance as the Global Manager of the FSM, stood at USD 109,972,545.75. For details, see the statement by His Excellency the Governor of Banco de Moçambique, here.
The Fund was established under Law No. 1/2024, of 9 January, and is regulated by Decree-Law No. 13/2024, of 5 April. Its creation was driven by the imperative need to ensure that revenues from oil and gas exploration effectively support the country’s social and economic development. Furthermore, it aims to maximize benefits for the national economy, stabilize the state budget, and provide a sustainable foundation for savings and wealth accumulation to benefit future generations.
The FSM is owned by the State and has the following objectives:
- To support the economic and social development of the country;
- To accumulate savings for future generations by collecting revenues from oil and natural gas exploration and returns from the investments thereof; and
- To stabilize the State Budget in the event of volatility of oil revenues.
The revenues constituting the FSM are derived from the production of liquefied natural gas from areas 1 and 4, offshore of the Rovuma Basin, and future oil and natural gas development and production projects. These revenues are deposited in US dollars (USD) in the Treasury Single Account (CUF – transitional oil and gas revenues), domiciled in the Banco de Moçambique.
The government holds overall responsibility for the management of the FSM, which is operationally managed by the Banco de Moçambique in the International Financial Market, based on the FSM Investment Policy.
The FSM is subject to Internal and External Audit on a semi-annual and annual basis, respectively. The annual accounts of the FSM are supervised by the Administrative Court, as provided by Law.
To access the FSM reports, please visit the Reporting section.