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The Bank of Mozambique has extended by another six months the requirement for exporters to convert 50% of their export earnings into the national currency, in a move aimed at increasing foreign currency availability within the financial system. The decision took effect on 9 October, extending the exceptional regime introduced in April 2025.
The extension is outlined in Notice No. 7/GBM/2026, through which the central bank maintains the requirement for exporters to convert half of their foreign currency earnings into Mozambican meticais through the national banking system.
The regime was introduced in April 2025, when the Bank of Mozambique increased the mandatory conversion rate from 30% to 50% for revenues generated from exports of goods, services and investment income earned abroad.
In practice, exporting companies must continue selling half of the foreign currency they receive to commercial banks, while retaining the remaining 50% in foreign currency, in accordance with exchange regulations.
The measure aims to increase the supply of foreign currency in the domestic market, making it easier for businesses to access foreign exchange for international payments, imports and purchases of equipment from abroad.
Despite the extension, the Bank of Mozambique did not provide a detailed explanation for its decision, stating only in the new notice that it was necessary to extend the duration of the exceptional regime.
The decision comes as several business sectors continue to report difficulties accessing foreign currency, affecting commercial operations and payments to international suppliers.
In its budget execution report for the first half of 2026, the Ministry of Finance acknowledged that foreign currency shortages had affected economic performance and public revenue collection.
According to the report, insufficient access to foreign currency prevented certain payments for services provided by non-resident entities, contributing to results falling below expectations.
However, Bank of Mozambique Governor Felisberto Navalha rejected claims of a widespread foreign currency shortage in the national financial system in September.
According to the governor, between January and August 2026, commercial banks purchased approximately $5.73 billion in foreign currency, an increase of $724 million compared with the same period in 2025.
During the same period, foreign currency sales by banks to their customers reached approximately $5.65 billion, representing an increase of $593 million year-on-year.
The governor argued that these figures demonstrate significant volumes of foreign currency circulating within the banking system, although he acknowledged occasional shortages at certain financial institutions.
Meanwhile, the Confederation of Economic Associations of Mozambique (CTA) has expressed concern over foreign exchange constraints affecting businesses. Its president, Álvaro Massingue, previously described the situation as an economic emergency.
With the latest decision, the mandatory conversion of half of export earnings is expected to remain in force until April 2027, extending a measure initially introduced as a temporary response to the foreign exchange challenges facing Mozambique's economy.
Mozambican President Daniel Chapo has announced that authorities will begin the compulsory collection of illegally held firearms after the voluntary surrender campaign ends in December 2026. The measure is expected to take effect in January 2027, following the expiration of the amnesty period granted to citizens possessing unregistered or illegally held weapons.
The Mozambican Government has introduced new rules into its petroleum legislation to prevent the State from bearing financial costs arising from project suspensions caused by force majeure events. The measure follows disagreements with French multinational TotalEnergies, which claimed an additional $4.5 billion in costs associated with the suspension of the Mozambique LNG project in Cabo Delgado.
Pope Leo XIV announced on Sunday, 11 October, that he will undergo surgery to remove a nodule detected in one of his lungs during recent medical examinations. The operation is expected to take place in the coming days at Gemelli University Hospital in Rome.
Three people died on Sunday morning, 11 October, after a fire completely destroyed the CHAMBO passenger vessel, which operates between Mbamba Bay in Tanzania and Metangula in Mozambique's Niassa Province. The vessel was carrying 43 people, including crew members, when the incident occurred.
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A massive fire destroyed a supermarket and three warehouses in the Zimpeto neighbourhood of Maputo, putting more than 100 jobs at risk. The blaze broke out on the evening of Saturday, 10 October, and continued until Sunday afternoon, requiring several firefighting teams to battle the flames for approximately 17 hours.
Three Mozambican citizens who fell victim to human trafficking in the Central African Republic have returned home following several weeks of diplomatic efforts involving authorities from both countries and the International Organization for Migration (IOM). The victims have been in Manica Province, their home region, since Thursday, 8 October.
The Maputo Juvenile Court is scheduled to hear the case of a 13-year-old boy accused of killing his 12-year-old neighbour, known as Edy, in the Militar neighbourhood of Maputo, on Thursday, 15 October. Under Mozambican law, children under the age of 16 cannot be held criminally responsible, although they may be subject to educational and corrective measures.
Mozambique's National Communications Institute (INCM) has expressed concern over the growing number of companies and individuals providing parcel and correspondence delivery services without the required licences, at a time when only 38 postal operators are legally authorised to operate in the country.
