Government set to resolve Bank of Mozambique's financial obligations
The Central Bank of Mozambique reported a net loss of 4,150 million meticais (54.9 million euros) in 2024, contrasting with profits of 886.2 million meticais (11.7 million euros) in the previous year. This revelation came as part of the bank's financial statements, audited by Forvis Mazars, and dated June 30, 2025.
The audit findings highlighted an anomaly in the information system regarding the accounting of exchange rate variations, leading to a significant revision of profits in 2023. This anomaly was related to time deposits and 'overnights' from previous exercises up to 2023.
The Central Bank has not proceeded with the registration in its individual and consolidated financial statements of interest and income associated with the debt of the Mozambican State, amounting to 27,648,902 thousand meticais (3.53 billion euros). The organic law of the Bank of Mozambique stipulates that the debt balances of exchange rate fluctuations must be recognized by the Mozambican State. However, the State has not assumed its responsibilities since the exercise of 2005, in the accumulated amount of 115,366,652 thousand meticais (1.53 billion euros).
The governor of the Central Bank stated that it is not their decision to issue bonds to address the issue. No specific action or response from the Bank of Mozambique regarding the issue of bonds was mentioned in the article. Similarly, no information about the Mozambican State's response to the audit findings was provided.
The total liabilities of the Bank of Mozambique at the end of 2024 were 754.1 billion meticais (9.9 billion euros), while the bank ended the year with total assets of 759.2 billion meticais (10 billion euros). The net worth of the bank at the end of 2024 was 5.07 billion meticais (67.1 million euros).
Mozambique is currently facing significant fiscal pressure and is actively considering debt restructuring with major creditors. The country’s international reserves have improved recently, potentially enhancing its capacity to manage debt obligations overall. However, the specific issue of the state’s assumption (or failure to assume) of the Bank of Mozambique’s exchange rate fluctuation debt since 2005 is not reported in these findings, indicating either the dispute remains unresolved and out of the spotlight or has not led to a new public development recently.
If this issue is material to financial or legal proceedings, more specialized or direct sources would need to be consulted for further information. As of mid-2025, there is no direct public update or clear resolution reported regarding this specific dispute in the available recent sources.
- With the Central Bank of Mozambique facing a net loss in 2024, there may be opportunities for investors to explore alternative avenues for wealth-management in personal-finance, considering the uncertainties surrounding the bank's financial situation.
- The oversight in accounting for exchange rate variations and the non-recognition of interest and income associated with the Mozambican State's debt by the Bank of Mozambique could potentially impact the business operations and financial stability of the bank.
- The implications of the state's failure to assume its responsibilities concerning the Bank of Mozambique's exchange rate fluctuation debt since 2005 might have significant repercussions for the country's fiscal pressure and debt management, calling for immediate attention in wealth-management and personal-finance.
