Regulatory Alerts2025-04-09
Notice No. 1/GBM/2025, of April 9 – Exceptional Regime for Repatriation and Conversion of Export Revenues from Goods, Services, and Foreign Investment Income
The Bank of Mozambique issued Notice No. 1/GBM/2025 and Notice No. 2/GBM/2025 to establish an exceptional, eighteen-month transitional exchange-rate regime that mandates a 50% conversion rate for export revenues from goods, services, and foreign investments, while simultaneously introducing a revised repatriation framework for petroleum product re-exports. The notices maintain prior regulatory provisions and grant intermediary banks greater foreign exchange management flexibility to mitigate current socio-economic pressures. All interpretation queries regarding these measures must be directed to the Bank's Licensing and Exchange Control Department, with both notices taking effect upon publication.
GAZETTE OF THE REPUBLIC
OFFICIAL PUBLICATION OF THE REPUBLIC OF MOZAMBIQUE
NATIONAL PRESS OF MOZAMBIQUE, S.A.
NOTICE
Matters to be published in the "Gazette of the Republic" must be submitted as a duly authenticated copy, one per subject matter, which shall include, in addition to the necessary indications for this purpose, the following endorsement, signed and authenticated: For publication in the "Gazette of the Republic.
SUMMARY
Bank of Mozambique:
Notice No. 1/GBM/2025: Exceptional regime for the repatriation and conversion of export revenues from goods, services, and foreign investment income.
Notice No. 2/GBM/2025: Regime for the repatriation and conversion of revenues from the re-exportation of petroleum products.
Notice No. 3/GBM/2025: Exceptional regime for minimum regulatory provisions.
BANK OF MOZAMBIQUE
Notice No. 1/GBM/2025
of April 9
As it is necessary to establish an exceptional and transitional exchange-rate regime aimed at minimizing the effects of the current socio-economic scenario, the Bank of Mozambique, exercising the competence conferred upon it by paragraph 3 of Article 20 of Law No. 28/2022, of December 29 (Exchange Rate Law), determines:
ARTICLE 1 (Subject Matter)
This Notice establishes the exceptional regime for the repatriation and conversion of export revenues from goods, services, and foreign investment income, as provided for in Notice No. 5/GBM/2024, of March 21.
ARTICLE 2 (Exceptional Regime for Revenue Conversion)
Exceptionally and for a period of eighteen months, counted from the effective date of this Notice, the conversion rate referred to in paragraph 1 of Article 4 of Notice No. 5/GBM/2024, of March 21, shall be 50% of the received amount.
ARTICLE 3 (Maintenance of Notice No. 5/GBM/2024, of March 21)
Without prejudice to the provisions of the preceding article, the application of Notice No. 5/GBM/2024, of March 21, remains in force.
ARTICLE 4 (Entry into Force)
This Notice enters into force on the date of its publication.
ARTICLE 5 (Clarification of Doubts)
Questions regarding the interpretation and application of this Notice shall be submitted to the Licensing and Exchange Control Department of the Bank of Mozambique.
Bank of Mozambique, in Maputo, April 2, 2025. Governor, Rogério Lucas Zandamela.
Notice No. 2/GBM/2025
of April 9
The current situation regarding the importation of petroleum products determines the need for greater flexibility in foreign exchange management by intermediary banks, within the framework of petroleum product re-exportation; accordingly, it is necessary to revise the regime for the repatriation and conversion of revenues from petroleum product re-exportation. In these terms, the Bank of Mozambique, exercising the competence conferred upon it by paragraph 3 of Article 20 of Law No. 28/2022, of December 29 (Exchange Rate Law), determines:
ARTICLE 1 (Subject Matter)
This Notice establishes the regime for the repatriation and conversion of revenues from the re-exportation of petroleum products.
ARTICLE 2 (Scope)