The Bank of Mozambique has received nearly $110 million to operationalise the country’s long‑anticipated Sovereign Wealth Fund, marking a major step towards managing natural gas revenues and securing long‑term economic stability.
Bank governor Rogério Zandamela confirmed the allocation, which followed a management agreement signed on 19 November between the finance ministry, designated as overall manager, and the central bank, tasked with operational oversight.
He described the transfer as “a decisive step” in making the fund fully functional.
The initial capital includes $33.6 million in petroleum and gas revenues that had not previously been channelled to the state’s transitional account.
In total, the government has provided $109,972,546 to establish the fund.
Created under a legal framework adopted earlier this year, the Sovereign Wealth Fund is designed to maximise benefits from natural resource revenues, strengthen macro‑economic and budgetary stability, and build a sustainable base for future savings.
The Bank of Mozambique will manage the fund’s investments, including placements on international financial markets.
Revenues currently stem from liquefied natural gas production in offshore Areas One and Four of the Rovuma Basin, with additional oil and gas projects expected to contribute in the future.
Officials say the fund is intended to safeguard collective savings and shield Mozambique’s economy from volatility in global energy markets while ensuring that resource wealth translates into long‑term prosperity.
JN/APA