Mozambican President Daniel Chapo has promulgated a law establishing a National Development Bank aimed at supporting inclusive and sustainable economic growth through the financing of strategic projects.
According to a statement from the Presidency on Monday, June 15, the new institution will be mandated to structure, finance and implement key development initiatives across priority sectors of the economy.
The legislation, approved by the Assembly of the Republic in May following a presidential proposal, is also intended to strengthen Mozambique’s economic sovereignty by improving access to long-term development funding.
Lawmakers said the bank is expected to address persistent financing gaps that have constrained investment, particularly for young entrepreneurs seeking entry into sectors such as agriculture and agro-processing, where commercial credit remains expensive. They added that the institution could reshape the country’s development financing framework by enabling greater state support for medium- and long-term investments.
The creation of the development bank was among commitments outlined by President Chapo during his inauguration. Under the law, the state will hold a majority stake in the bank, while the remaining shares will be open to other investors, including commercial financial institutions.