The Bank of Mozambique issued new foreign-exchange notices introducing an exceptional, time-limited regime for repatriation and conversion of export proceeds and updating the framework for repatriating and converting revenues from the re-export of petroleum products. For exports of goods and services and income from investment abroad, the mandatory conversion rate referenced in Notice 5/GBM/2024 was set, on an exceptional basis for 18 months from entry into force, at 50% of the amount received, while the broader Notice 5/GBM/2024 regime remains in effect; the measure takes effect on publication and interpretative questions are to be submitted to the Bank’s Licensing and Exchange Control Department. The revised petroleum re-export regime was justified by the current conditions around petroleum-product imports and applies to petroleum-product re-exporters and the intermediary banks involved. Separately, the gazette also carried a notice establishing an exceptional regime for minimum regulatory provisions.
Bank of Mozambique 2025-04-09
Bank of Mozambique sets 18-month 50% conversion requirement for export proceeds and revises petroleum re-export FX repatriation rules
The Bank of Mozambique introduced a temporary regime for the repatriation and conversion of export proceeds, setting a mandatory conversion rate of 50% for 18 months under Notice 5/GBM/2024. The revised framework also addresses the re-export of petroleum products due to current import conditions, affecting re-exporters and intermediary banks. Additionally, an exceptional regime for minimum regulatory provisions was established.