Mozambican President Daniel Francisco Chapo has appointed Waldemar Fernando de Sousa as governor of the Bank of Mozambique and Felisberto Dinis Navalha as deputy governor.

Mr De Sousa succeeds Rogério Zandamela, who served as governor of the central bank from August 2016 until August 2026.

As governor, Mr De Sousa will chair the bank’s board of directors and represent the institution before government and domestic and international bodies.

He will also oversee the bank’s senior management and activities, according to the announcement.

Mr Navalha will serve on the board of directors and act as governor when the governor is absent or incapacitated.

He will also perform other duties assigned or delegated to him under the law.

The Bank of Mozambique is responsible for monetary and financial stability, including monetary and exchange-rate policies.

The central bank also manages the country’s foreign assets and supervises financial institutions.

The two appointees are expected to be sworn in on Wednesday at a ceremony chaired by Mr Chapo at his Maputo office.

(NAN)