Fintech & payments regulation in Mozambique (2026)
Fintech and digital payments in Mozambique: partial.
Mozambique has a foundational licensing regime for payment and e-money institutions embedded within its broader banking law (Law 20/2020), under the supervision of Banco de Moçambique, with electronic money institutions classified as credit institutions. The framework is actively developing: a new national instant payment system (SPIM) was launched in March 2026, and a multi-edition regulatory sandbox provides a fintech licensing pathway, but dedicated standalone payment-services legislation, open banking rules, and BNPL-specific regulation do not yet exist.
Legal framework
Law No. 20/2020 (Credit Institutions and Financial Companies Law) + Decree No. 50/2024; supervised by Banco de Moçambique
Key points: digital payments & fintech in Mozambique
Primary legal framework
Law No. 20/2020 of 31 December 2020 replaced the former Law 15/99 and governs the establishment, operation, and supervision of credit institutions and financial companies, including electronic money institutions. Decree No. 50/2024 of 11 July 2024 provides its implementing regulation.
E-money & payment institution licensing
Electronic money institutions (EMIs) are classified as 'credit institutions' and must be licensed by Banco de Moçambique. There is no separate standalone e-money/payment institution licensing law; all authorisations flow through the credit institutions framework. Major operators such as M-Pesa and mKesh hold Banco de Moçambique licences.
Instant payment rail (SPIM)
Notice No. 1/GBM/2026 of 25 February 2026 established the Mozambique Instant Payment System (SPIM), operated by SIMO (Interbank Society of Mozambique). The system runs 24/7, is fee-free for individual interbank transfers, with daily limits of MZN 200,000 for individuals and MZN 500,000 for legal entities. Participation is mandatory for EMIs and credit institutions with at least 5,000 active clients or ≥10,000 annual transactions. SPIM went live on 2 March 2026.
Fintech regulatory sandbox
Banco de Moçambique operates an active regulatory sandbox (7th edition as of 2025-2026), aligned with the National Financial Inclusion Strategy 2025-2031, through which fintechs can test products under central bank oversight and subsequently obtain a full operating licence. Over 12 fintechs have graduated from prior editions; two have been fully licensed.
AML/CFT for fintechs and mobile money
The AML/CFT framework was updated in 2024 via Law 3/2024 (amendment to the AML/CFT Act), Notice 10/GBM/2024 (updated supervisory guidelines), and Notice 7/GBM/2024 (sector-specific rules for mobile money operators), all applicable to licensed payment institutions and EMIs.
Open banking & BNPL
No open banking framework or BNPL-specific regulation is currently in force. The National Financial Inclusion Strategy 2025-2031 (ENIF) foresees the future development of consumer data protection, cybersecurity, and broader fintech regulation, but no concrete legislation has been enacted for these areas as of mid-2026.
Sources
- bancomoc.mz/en/areas-of-expertise/licensing/licensing-of-institutions/
- bancomoc.mz/en/media/highlights/notice-no-1-gbm-2026-establishes-the-mozambique-i
- bancomoc.mz/en/areas-of-expertise/financial-inclusion/bm-regulatory-sandbox/
- bancomoc.mz/media/nt3pqvv1/nfis-2025-2031-_-ingl%C3%AAs.pdf
- rsa-lp.com/2021/03/16/new-mozambican-credit-institutions-and-financial-companies
- lexafrica.com/2021/02/the-new-law-on-credit-institutions-and-financial-companies/
- practiceguides.chambers.com/practice-guides/banking-regulation-2026/mozambique
- dlapiperafrica.com/pt/mozambique/insights/2026/Mozambique-Instant-Payment-System
- pretoebranco.co.mz/eng/news/mozambique-enters-the-era-of-instant-payments
- blog.voveid.com/aml-compliance-in-mozambique-2025-guide-for-fintechs-and-digital-plat
- bancomoc.mz/en/media/highlights/national-financial-inclusion-strategy-2025-2031-r
- profile.co.mz/en/governor-of-the-bank-of-mozambique-launches-5th-edition-of-the-reg
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Next topicOrientation, not legal advice: verify against the primary sources linked above. Last verified 24 May 2026. Methodology & how to cite · State of Technology Regulation 2026