Mozambique’s central bank governor Rogério Zandamela has warned that the rapid integration of AI into banking systems and decision-making processes is creating new risks that regulators must address without stifling innovation. Speaking at the Bank of Mozambique’s 17th Scientific Conference, he said AI is already embedded in financial operations, including credit assessment, fraud detection, customer service platforms, payment systems oversight and macroeconomic analysis, and is no longer a technology of the future but one actively shaping financial services in Mozambique and beyond.
The governor of the Bank of Mozambique, Rogério Zandamela, has called for regulation of artificial intelligence in the country’s financial system, saying policymakers must balance innovation with stability, security and consumer protection.
“This is not about stifling innovation, but rather about creating clear rules that ensure these tools are used safely, transparently, responsibly, and with respect for consumer rights,” he said.
Zandamela noted that AI was already embedded in financial systems and decision-making processes, including in Mozambique, and was no longer a future technology.
The central bank said it brought the issue to the forefront of the conference because of the need to promote financial innovation while strengthening confidence, integrity and stability in the financial system.
Zandamela highlighted potential benefits of AI, including improved financial inclusion, faster transactions, better customer service and enhanced fraud detection, as well as more tailored financial products for consumers.
He also said AI tools were being used internally to support monetary policy analysis, macroeconomic forecasting, decision-making in complex environments, financial stability monitoring, supervision and payment systems efficiency.
However, he warned of risks including misuse of personal data, automated decisions that could harm consumers, cybersecurity threats, technological concentration with systemic impact, and exclusion of citizens with limited digital access.
Zandamela said the central bank had been preparing for these risks through several initiatives since 2021, including a 2025–27 digital transformation strategy and the creation of an internal artificial intelligence team.
An artificial intelligence policy has also been approved to guide safe and responsible use of the technology within the institution, he said.
“The Bank of Mozambique has also been investing in innovation,” he said, citing the development of digital tools including an institutional chatbot.
He added that some financial institutions in Mozambique had already begun adopting AI-based tools, particularly in mobile banking applications, websites and customer service platforms.
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Faustine Ngila is the AI Editor at Impact Newswire, based in Nairobi, Kenya. He is an award-winning journalist specializing in artificial intelligence, blockchain, and emerging technologies.
He previously worked as a global technology reporter at Quartz in New York and Digital Frontier in London, where he covered innovation, startups, and the global digital economy.
With years of experience reporting on cutting-edge technologies, Faustine focuses on AI developments, industry trends, and the impact of technology on society.
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