GOVERNOR OF THE BANCO DE MOÇAMBIQUE LAUNCHES THE 5TH EDITION OF THE REGULATORY SANDBOX

This Friday morning (26), the Governor of the Banco de Moçambique, launched the 5^th edition of the Regulatory Sandbox at the Sandbox's premises.

During his address, Rogério Zandamela commended the five fintechs approved for this edition of the Sandbox, namely one financial intermediation platform, two payment aggregators, and two rotating savings and credit associations management platforms.

Regarding the three companies that were unable to progress for not meeting the conditions required to carry out tests in a real environment, with the required security, Governor Zandamela encouraged them to keep participating in the upcoming editions.

Rogério Zandamela said that the project aims to address the challenges posed by technological innovation aimed at financial services, without, however, neglecting the challenges concerning risk mitigation, financial stability, consumer protection and market conduct.

The Vice Chairperson of the Mozambique Fintechs Association (FINTECH.MZ), Carlos Mondle, was optimistic about the results achieved in the previous edition of the Regulatory Sandbox and the release of this 5^th edition, stating that 2024 is the year of change, since these fintechs bring new disruptive solutions to the financial system.

The Chairperson of the Mozambican Association of Banks (AMB), Teotónio Comiche, congratulated the Banco de Moçambique for the initiative and stated that he would like to see a regulatory sandbox centered on capital and insurance markets.

At the event, Rogério Zandamela handed over participation certificates to the five fintechs approved in the 4^th edition, namely, Tablu Tecnologias, Hivieoline, Tesy Investments, Volet and Speranza, which can now request a license from the Banco de Moçambique so as to market their products.

The Regulatory Sandbox is part of the implementation of the National Financial Inclusion Strategy (2016-2022), which sets out to, among others, increase the access to and use of financial services for the Mozambican population.

The event was attended by Board Members of the Banco de Moçambique and the Regulatory Sandbox and the Regulatory Sandbox Project Monitoring Committee, as well as project partners, namely the AMB and FINTECH.MZ, representatives of financial institutions and members of participant fintechs.