Mozambique Clears the Last Step Before Opening a Development Bank
The Council of Ministers approved the rules that operationalise the Banco de Desenvolvimento de Mocambique, capitalised at 32 billion meticais. The post Mozambique Clears the Last Step Before Opening a Development Bank appeared first on The Rio Times .
Mozambique's Council of Ministers approved the regulation to operationalise the Banco de Desenvolvimento de Moçambique on 25 August 2026. The law behind its creation, Law 17/2026 of 15 June, entered into force upon publication. The bank is structured as a public-law entity in the form of a joint-stock company, with the state subscribing 32 billion meticais (approximately US$508 million) and retaining at least 51% control.
The institution will finance medium- and long-term projects in strategic sectors and support businesses with limited access to affordable credit. The regulation outlines the bank's organization, functioning, and powers, including a general assembly, board of directors, fiscal council, and specialized committees. The new development bank supplements the existing Banco Nacional de Investimento, which has been in operation since 2010.
While concerns were raised about the duplication of institutions, the government expects the new bank to work as a strategic partner of the private sector and contribute to reducing poverty. Mozambique's economy contracted by about 0.5% in 2025, with the International Monetary Fund projecting only around 2% growth in the current year.
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