The Bank of Mozambique has established investor classification and protection rules for financial intermediaries operating in the securities market. Investors must be categorized as professional or nonprofessional, with intermediaries required to maintain written classification policies, document and regularly review each classification, and provide protections and information appropriate to the investor’s knowledge and experience. Nonprofessional investors may place no more than 10% of annual net income or net financial assets in complex or high-risk products and may invest up to MZN 2 million annually in public offerings, securities crowdfunding or similar instruments. Investors seeking professional status must undergo an assessment and meet at least two of three criteria covering trading frequency, a financial instrument portfolio of at least MZN 30 million, or relevant financial-sector experience. The rules also impose requirements covering suitability assessments, cost and risk disclosures, order execution, asset segregation, conflicts of interest, staff competence, advertising and complaints handling. The rules enter into force 90 days after publication. The Bank of Mozambique will issue standardized disclosure models and requirements for staff training plans and reports through circulars.
2026-06-10Bank of Mozambique
Bank of Mozambique sets securities investor classifications and nonprofessional investment limits
The Bank of Mozambique has introduced professional and nonprofessional investor classifications and related conduct requirements for securities intermediaries. Nonprofessional investors face a 10% limit for complex or high-risk products and an annual MZN 2 million cap for public offerings, securities crowdfunding and similar instruments. The rules take effect 90 days after publication.