Mozambique Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in mozambique, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Trade Financing
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Trade financing is widely accessible through Mozambican commercial banks, which also provide project financing. For larger projects, development banks often step in, as they are more willing to take on the risks associated with emerging markets, a role that private banks may not typically assume. Venture capital is still a nascent concept in Mozambique and is not widely available.

Methods of Payment

To pay for imports, Mozambican businesses must submit proof of payment to the Bank of Mozambique and obtain authorization for foreign transactions. This process, while routine, can be time-consuming and delay the payment processing for importers.

Cash remains the dominant method of payment for everyday transactions, although mobile money services have grown in popularity. Leading providers include M-PESA (Vodacom), mKesh (Tmcel), and e-Mola (Movitel). Visa holds the largest share of the credit card market, commanding over 90% of the market. In 2022, the Interbank Society of Mozambique (SIMO) announced it would phase out SIMO rede, the country’s counterpart to the SWIFT interbank transaction system, in favor of a new system supported by U.S.-based

Euronet, which previously acted as a backup for SIMO rede. The switch began in 2023, causing occasional disruptions for foreign cards, particularly Mastercard. Financial industry sources expect full implementation to take up to two more years.

Mozambique’s financial system supports a range of payment methods, including open account, letters of credit, cash in advance, and documentary collections. However, the country’s credit ratings have recently been downgraded by Standard & Poor’s and Fitch. The Central Bank operates an Information Credit Bureau, which provides details of collection agencies and law firms offering collection services for a fee. 

For more details on trade finance options and payment methods, U.S. firms are encouraged to consult the Trade Finance Guide.

Banking Systems

Mozambique’s banking sector is largely dominated by foreign-owned financial institutions, with 19 out of 40 financial institutions being commercial banks. The largest banks in the country include Millennium BIM, Banco Comercial e de Investimentos (BCI), and Standard Bank, which have both Mozambican and foreign (Portuguese, South African) shareholders. Local commercial banks offer a wide range of services, including investment banking, and many of the largest banks have branches or representative offices in Europe, the United States, and China.

It is common for individuals and businesses in Mozambique to hold multiple currency accounts, with the U.S. dollar, euro, and South African rand being the most frequently used currencies for commercial transactions. Foreign currency payments, particularly in U.S. dollars, are widely accepted in most formal commercial establishments.

Interest rates on loans in local currency (metical) can be high, with the Bank of Mozambique’s prime rate is 15.6% as of March 2026. The use of credit cards is still relatively new and may not always be convenient for small payments, although credit cards are more commonly used in the capital, Maputo. Overall, both businesses and consumers in Mozambique are gradually adopting more formalized financial systems for payment and transactions.

Foreign Exchange Controls

Foreign exchange is available to both importers and exporters to finance current account transactions in Mozambique. To purchase foreign currency, an importer or exporter must submit an application to the Bank of Mozambique, which must approve the transaction before the foreign currency can be acquired from commercial banks or exchange houses. These applications are typically approved within 15 days, provided the necessary documentation related to the goods is submitted. Approval can be granted prior to the goods’ arrival in Mozambique.

Commercial banks and exchange houses can also submit applications on behalf of their clients. The application must include proof of the importer’s or exporter’s financial capacity to complete the transaction. For advance payments exceeding $50,000, a performance guarantee from a bank may be required. Loans in foreign currency are generally only available to exporters or approved projects that have a direct benefit to the country’s economy.

U.S. Banks & Local Correspondent Banks

There are no U.S. banks in Mozambique, here is a list of correspondent banks:
•    ABSA
•    Banco Comercial e de Investimentos (BCI)
•    Millennium BIM
•    Moza Banco
•    Nedbank Mozambique
•    Standard Bank

For additional information, visit the U.S. Department of State Investment Climate Statements.

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Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

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As a beta product, the Chatbot is currently being tested and its responses may occasionally produce inaccurate or incomplete information. The Chatbot is trained to decline out of scope or inappropriate requests. The Chatbot’s knowledge is limited to the public information on the Export Solutions web pages of Trade.gov, which covers a wide range of topics on exporting. While it cannot provide responses specific to a company’s product or a specific foreign market, its reference pages will guide you to other relevant government resources and market research. Always double-check the Chatbot’s responses using the provided references or by visiting the Export Solutions web pages on Trade.gov. Do not use its responses as legal or professional advice. Inaccurate advice from the Chatbot would not be a defense to violating any export rules or regulations.

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