Felisberto Navalha inaugurated as Governor of Banco de Moçambique

Felisberto Dinis Navalha has been sworn in as the new Governor of the Banco de Moçambique. During the inauguration ceremony on September 2, President Daniel Chapo emphasized the need for macroeconomic stability, inflation control, and the stabilization of the metical to assist businesses with foreign exchange access.

President Chapo urged the new Governor to improve credit access for key sectors, including agriculture, industry, tourism, and logistics, with a specific focus on supporting youth and women entrepreneurs. The President also noted concerns regarding rising domestic public debt and called for better coordination between the central bank and the Ministry of Finance.

The appointment follows a controversial selection process. Oxford Economics described the recent leadership transition as an “embarrassing twist,” questioning the credibility of the presidential office after the initial nominee, Waldemar Fernando de Sousa, was revoked within 24 hours. The sudden reversal, cited as being due to “supervening issues,” raised concerns regarding the effectiveness of background checks for high-level state officials, particularly following reports linking Sousa to previous financial investigations.