This Thursday (21) in Beira city, the Governor of Banco de Moçambique, Rogério Zandamela, delivered an inaugural lecture that marked the opening of the academic year at the Zambeze University.

Against the backdrop of the theme The Importance of Financial Inclusion in Boosting Economic Development, the Governor's address focused on the country's position in social development indicators, as well as the actions being carried out in order to further financial inclusion.

In his speech, Rogério Zandamela stated that, backed by the empirical and academic evidence of the driving role of financial inclusion in socioeconomic development, Mozambique has taken ample measures inspired on the three key pillars of financial inclusion, namely “access and use”, “financial infrastructure strengthening” as well as “consumer protection and financial education.”

Among such measures, the Governor highlighted the Regulatory Sandbox of the Banco de Moçambique, the interoperability between mobile money institutions and commercial banks, financial education programs, the Code of Conduct of Credit Institutions and Financial Companies, as well as mechanisms for penalizing financial institutions.

Despite the gains that arose from such actions in access to financial services, transaction flexibility and consumer protection, Zandamela noted that there are key challenges that require a holistic approach, in order to attain comprehensive financial inclusion.

Such challenges concern the need to promote greater coordination between the various sectors of economic activity and the Government, and a proper legal environment, with a view to establishing a regulatory framework that meets the technological advances and dynamics of the financial system.

Other challenges pointed out by Zandamela regard the need to develop basic infrastructure and appropriate technologies, as well as favorable macroeconomic conditions, in order to drive and accelerate financial inclusion.

For his part, the President of Unizambeze, Bettencourt Capece, said he had confirmed what he already thought of the Governor: “A figure with a plethora of profound knowledge, but above all, an example and role model to all of us”. 

In attendance at the inaugural lecture were the directors of the Banco de Moçambique, Paula Libombo, Elda Monteiro, Carlos Baptista and Miriam Germano, alongside local authorities, university presidents, Unizambeze staff members, students, and members of civil society.