MAPUTO, Mozambique – President Daniel Chapo on Wednesday swore in Felisberto Dinis Navalha as Governor of the Bank of Mozambique, tasking the new central bank leadership with protecting financial stability while supporting production, investment and job creation.
Navalha takes over from Rogério Zandamela, whose second and final five year term ended this week. His appointment followed a late change by the Presidency after Waldemar Fernando de Sousa had initially been named governor, with Navalha appointed deputy governor. The first appointments were withdrawn, and Navalha was then appointed governor while Benedita Manuel Guimino was named deputy governor.
Speaking at the swearing in ceremony, Chapo said the central bank should promote financial and monetary stability in a way that builds confidence in the economy and supports productive activity. 
“We do not want stability through immobility. We want stability that generates confidence, stimulates investment, finances production, creates jobs and accompanies the country’s economic transformation,” he said.
Chapo called for a stronger banking system and a Bank of Mozambique that is more responsive to the real economy, particularly the needs of producers, businesses, young people and women.
He said Mozambique’s financial sector should become more modern, inclusive and focused on development, with the capacity to respond to national economic challenges and create opportunities.
The President said the incoming leadership should preserve gains already made by the institution, correct areas requiring improvement and modernise the parts of the bank that need reform.
Chapo also thanked outgoing governor Zandamela for his service during his tenure at the helm of the central bank.
Navalha assumes office as Mozambique seeks to link macroeconomic stability more closely with financing for production and broader economic growth. Chapo said the Bank of Mozambique should play a growing role in laying the foundations for the country’s economic independence.
