Economy: Mozambique
Key Facts
—Who. Mozambique’s central bank, the Banco de Moçambique, led by Governor Felisberto Navalha, and the South African Reserve Bank, which runs the regional platform.
—What. Mozambique plans to complete its operational integration into the real-time payment platform of the Southern African Development Community (SADC). The Banco de Moçambique says Mozambique has taken part in it since October 2016.
—When. Early 2027. Forbes África Lusófona reports the first quarter, and Carta de Moçambique headlines January.
—Why it matters. Payments between Mozambique and its neighbours, above all South Africa, could settle faster and cost less. Carta de Moçambique says the metical may become a payment currency on the platform, but we found no official confirmation.
—Status. A plan, not yet complete. The central bank has not given an exact start day or a list of banks.
—As of. 7 October 2026, 23:00 GMT.
Mozambique’s central bank says it will complete its integration into the SADC regional payment platform in early 2027. A Mozambican outlet reports that the metical may then become a payment currency there, but we found no official confirmation of that.
What We Know
Governor Felisberto Navalha announced the plan in Maputo after the central bank’s Monetary Policy Committee met, according to Forbes África Lusófona on 1 October 2026. He said the country is finishing the technical and operational work needed to integrate fully into the SADC real-time gross settlement system, known as SADC-RTGS.
The system is run by the South African Reserve Bank and has operated since 22 July 2013, according to the bank. Mozambique has taken part since October 2016, according to its own central bank, and EWN reports that 15 of the 16 SADC members participate.
Until July 2026 the platform settled payments only in South African rand. The Angolan kwanza was then added, and EWN reported on 28 July that Botswana and Mozambique were next in line.
Navalha said the platform cuts transaction time and cost and makes regional trade smoother. Carta de Moçambique headlined on 7 October that the metical may start to be a payment currency in SADC in January 2027, a stronger claim than the central bank’s own remarks, as reported by others.
Why a Regional Platform Matters
A real-time gross settlement system moves each payment individually and finally, between accounts held with the settlement operator, instead of netting many payments at the end of the day. Banks in the region use it for large cross-border transfers, which is why changes to its currencies matter to trade.
Today a payment in rand between Mozambique and South Africa often depends on Mozambican banks holding rand in advance. That can cause delays and extra costs, the reports say.
Forbes África Lusófona expects the main effect on commercial payments between Mozambique and South Africa, including import payments. The SADC says its aim is to encourage local currencies in regional trade and make cross-border payments simpler, faster and cheaper.
Live Company IntelligenceMozambique Plans Deeper Regional Payments Link — the full investor dossier
The Central Bank’s Other News This Week
The Monetary Policy Committee met on 30 September 2026 and kept the policy rate, the MIMO rate, at 9.25%. It also introduced an 18-month change to bank reserve rules that rewards lending to firms that replace imports or raise exports, according to O País.
Annual inflation slowed to 6.5% in August from 7.5% in July, and the economy grew 1.7% in the second quarter after 0.1% in the first. The next meeting is set for 25 November 2026.
We have also reported on the constitutional criticism of bank account freezes in Mozambique, which shows how closely the financial system is being watched. The payments plan is a separate, technical project.
What Is Not Known
The reports give two start dates, January 2027 and the first quarter of 2027, and the central bank has not given an exact day. It is also unclear whether the metical will become a settlement currency like the kwanza, or whether Mozambican banks will first use the platform for rand payments.
No figures on expected savings, transaction volumes or participating banks have been published. The South African Reserve Bank has not said when the metical could be added.
What It Means for US Readers and Investors
For companies that sell to or buy from Mozambique, faster settlement in regional currencies may reduce payment delays and the cost of holding rand. The effect is likely to be gradual, because no start date or bank list has been published.
The step is also a test of how far southern Africa can settle trade in its own currencies. Investors should watch for a firm start date, the first participating banks and any move to add the pula.
More: Mozambique news in English, every day from The Rio Times.
Frequently Asked Questions
When will Mozambique complete its SADC payments integration?
The central bank plans to complete it in early 2027. Forbes África Lusófona reports the first quarter, and Carta de Moçambique headlines January.
Which currencies does the SADC platform settle?
It settled only South African rand from 2013 until July 2026, when the Angolan kwanza was added. EWN reports that Botswana and Mozambique are next in line.
Who runs the SADC payment system?
The South African Reserve Bank operates the SADC-RTGS, the real-time gross settlement system for the region. It has run since 22 July 2013.
Did Mozambique change interest rates this week?
No, the Monetary Policy Committee kept the MIMO rate at 9.25% on 30 September 2026. The next meeting is on 25 November 2026.
Sources
Forbes África Lusófona · Carta de Moçambique · O País · South African Reserve Bank (SADC-RTGS) · EWN
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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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