Mozambique Takes Step Towards Beneficial Ownership Disclosure

Mozambique has made significant commitments towards achieving beneficial ownership transparency, a crucial step in promoting accountability and combating corruption.

Commitments Made

On April 17, 2020, Mozambique pledged to disclose beneficial ownership information as part of its agreement with the International Monetary Fund’s (IMF) Rapid Financing Instrument. Additionally, as an Extractives Industry Transparency Initiative (EITI) member since February 25, 2016, Mozambique has also committed to beneficial ownership transparency for the extractives sector.

Implementation Underway

The implementation of these commitments is currently underway, with efforts focused on establishing a register to track and disclose beneficial ownership information. Once complete, this register will provide stakeholders with valuable insights into who ultimately owns and controls companies operating in Mozambique.

Benefits of Beneficial Ownership Transparency

• Promotes accountability and transparency within the corporate landscape
• Combats corruption by ensuring that those who own and control companies are transparent about their interests
• Provides stakeholders with valuable insights into company ownership structures

Progress Towards Commitments

According to the Open Ownership map, Mozambique is actively working towards achieving its beneficial ownership transparency commitments. However, it’s essential to note that information may not be comprehensive for all countries, and users are encouraged to submit any new or correct data through the provided form.

A Promising Step Forward

As Mozambique continues to implement its commitment to beneficial ownership transparency, this development serves as a promising step forward in promoting transparency and accountability within the country’s corporate landscape.