Mozambique urges for global financial reform
(MENAFN) Mozambique has voiced support for working with Russia and other partners to help establish a new global financial system that fosters economic growth in Africa. The call was made by Mozambique’s Minister of Planning and Development, Salim Vala, during the ‘Russia–Africa Business Dialogue’ at the 28th St. Petersburg International Economic Forum (SPIEF).
Vala emphasized that while Mozambique is rich in natural resources like natural gas, gold, rubies, and coal, its greatest strength lies in its people. He stressed the importance of unlocking the nation’s full economic potential to improve the lives of its 33.4 million citizens.
Outlining a 20-year development strategy, Vala explained that Mozambique aims to modernize agriculture and pursue industrialization, moving beyond dependence on oil and gas. He called for joint efforts with Russia, fellow African nations, and other developing countries to build a new financial framework that encourages enterprise growth and private sector development.
He also advocated for changing the global narrative around Africa to one that reflects a more educated, healthier, and technologically capable continent ready for prosperity.
Vala highlighted that strong partnerships are vital for improving infrastructure, attracting investment, creating jobs, and reducing poverty and inequality.
Earlier in June, Eugenio Alberto Macumbe, head of the Digital Governance Division at Mozambique’s ICT Regulatory Authority, also praised Russia’s developmental expertise. Speaking to RT, he emphasized Mozambique’s focus on digital transformation and AI, noting that Russia’s experience could be invaluable.
At the Mozambique Technology Fair in May, Vala reiterated the importance of ICT in driving the country's progress.
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