This article addresses the current and future concerns faced by the finance function in the banking and insurance sector in Mozambique, based on a study carried out in virtual format by the CFO Survey, using a questionnaire, conducted in 2023. The results obtained reflect the perceptions and challenges identified by these professionals in relation to regulatory complexity, financial market volatility, technological advances and other critical aspects that directly impact the finance function in the current context. This study provides valuable insights into the concerns and perspectives of financial professionals in Mozambique, highlighting the importance of adaptive and innovative strategies to face the challenges in a constantly evolving environment.
Concerns in the banking sector
Increasing regulatory complexity and supervisory scrutiny: This aspect refers to the growing complexity of regulations and stricter demands from supervisors regarding banking practices.
Impact of financial market volatility: The ability to respond quickly to changing market conditions is essential for success in the banking sector.
Accelerated pace of technological change: Rapid technological changes are transforming the way banking institutions operate. This includes the adoption of new technologies such as artificial intelligence, blockchain and automation, which impact everything from service delivery to cyber security. Institutions need to adapt to this rapid pace of change to remain competitive and relevant in the market.
Concerns in the insurance sector
Increasing complexity of regulation and supervisory control: This aspect refers to the growing complexity of regulation and the more stringent requirements of supervisory authorities regarding banking practices.
Impact of financial market volatility: The ability to respond quickly to changing market conditions is essential for success in the banking sector.
Accelerated pace of technological evolution: Rapid technological changes are transforming the way banking institutions operate. This includes the adoption of new technologies such as artificial intelligence, blockchain and automation, which impact everything from service delivery to cybersecurity. Institutions need to adapt to this rapid pace of change in order to remain competitive and relevant in the market.
Classification of the current performance of financial functions
Risk profile inherent in the changes projected for its financial function over the next 3 years
It should be noted that the report was released this Wednesday in Maputo, with the aim of answering the current and future challenges of the financial function in the banking and insurance sector in Mozambique.
Study by: CFO Survey
