Regulatory Alerts2024-03-21
Notice No. 4/GBM/2024, of March 21 – Establishes the Liberalization Regime for Capital and Other Foreign Exchange Operations
The Bank of Mozambique issued Notice No. 4/GBM/2024 and Notice No. 5/GBM/2024 to liberalize capital and foreign exchange operations while mandating the 90-day repatriation and 30% mandatory conversion of export revenues from goods, services, and foreign investment. These notices exempt specified capital flows—including direct foreign investment, real estate, securities, and financial credits up to USD 10 million for legal entities—from prior central bank authorization, provided they meet defined interest rate, maturity, and cost thresholds. Violations trigger sanctions under the Foreign Exchange Law of 2022, with all interpretative disputes directed to the Bank’s Licensing and Foreign Exchange Control Department.
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