(3 Minutes Read)
A comparative analysis, considering that transaction peaks occur at month-end, clearly showed that, compared to April, transactions in May were flowing smoothly, without problems or disruptions.
Governor of the Bank of Mozambique, Rogério Zandamela, has stated that the payment system is now stable, following several months marked by failures in the network managed by the Mozambique Interbank Society (SIMO), which adversely affected individuals and businesses both domestically and internationally.
Regarding culpability, Zandamela no longer solely points fingers at commercial banks that delayed migrating to the new system. He acknowledged that the Central Bank was also responsible. A comparative analysis, considering that transaction peaks occur at month-end, clearly showed that, compared to April, transactions in May were flowing smoothly, without problems or disruptions.
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The Central Bank Governor said that the failures occurred in specific institutions, but due to their size, there was a feeling that everything was paralyzed, that there was a blackout, but that was not the case. What happened cannot be compared to the situation we faced in 2018, where the blackout was total because someone decided outside the country.
