Huruda Malungane, founder and CEO of the CFO Forum Mozambique, will be a speaker at the 7th edition of the Indico Conferences, scheduled for September 3. On the panel under the theme “Data as a Driver of Value: Innovation, Finance and Artificial Intelligence”, Malungane will address the role of data as a strategic asset in financial management, highlighting how its use can increase operational efficiency, strengthen decision-making, and create new business opportunities.
Her contribution aims to offer a practical and analytical perspective on the integration of artificial intelligence and financial innovation, showcasing the potential of data to drive Mozambique’s economy.
Profile Mozambique: In Mozambique, the volume of data generated by sectors such as banking, telecommunications, insurance and consumer markets is growing rapidly. In your view, what are the most effective ways to transform this flow of data into tangible economic value, contributing both to greater organizational efficiency and to the dynamization of the national economy?
Huruda Malungane: From my perspective, the first step is to recognize data as a strategic asset, on the same level as financial assets. For this to be transformed into real value, we believe its management must rest on three fundamental pillars. The first is the creation of robust digital infrastructures, capable of ensuring real-time data collection, storage, and processing.
The second is the technical empowerment of teams, with emphasis on areas such as data science and predictive analytics, so that information is not limited to historical records but becomes a basis for strategic business decision-making.
The third pillar is intersectoral integration, as we believe that the true value lies in the ability to combine data from different areas, such as health, insurance, and telecommunications, creating more inclusive and accessible solutions. When managed with rigor, data has the potential to increase operational efficiency, reduce transaction costs and, above all, generate new business models capable of stimulating the national economy.
PM: Considering the country’s reality, which sectors do you believe are best positioned to lead the adoption of artificial intelligence and the monetization of data? And in what way can this movement redefine the competitiveness of Mozambican companies in the regional and international markets?
HM: I believe that banking, telecommunications, and insurance are naturally best positioned to lead this process, not only because of the scale of data they already generate, but also due to their systemic importance in the national economy. Artificial intelligence, when applied to these sectors, can deliver significant gains. In banking, for example, it can enable more inclusive credit scoring models that also consider clients without a formal history.
In telecommunications, there is scope for the development of mobile financial products and accessible insurance through digital platforms. In insurance, the adoption of dynamic pricing models, based on behavior, can reduce fraud while simultaneously increasing accessibility to services. By taking the lead, these sectors can build a regional competitive advantage, positioning Mozambique not only as a consumer of technological solutions but also as an exporter of innovation adapted to the African context.
PM: A large part of Mozambique’s economy is based on small and medium-sized enterprises. What practical and accessible solutions can be created to allow SMEs as well to integrate data as a strategic asset in their financial management, avoiding digital transformation being an exclusive privilege of large organizations?
HM: For small and medium-sized enterprises, we believe it is essential to invest in simple, modular, and low-cost solutions that are adjusted to their operational reality. Some practical measures can make a real difference. I would highlight, for example, the use of cloud-based digital accounting platforms, accessible through affordable monthly subscriptions, and the adoption of simplified financial analysis tools that can translate data into clear insights on cash flow, profitability, and risks.
I also believe in the importance of fiscal incentives or public-private partnerships that open up the possibility for SMEs to access digital consulting services. At the same time, financial and digital literacy programs are decisive, enabling managers to interpret and apply data in their daily management. In this way, data ceases to be viewed merely as mandatory reports for tax purposes and instead becomes a true strategic planning tool, accessible also to smaller enterprises and reinforcing their competitiveness in the market.
PM: The use of financial data as an asset raises issues of privacy, transparency, and regulation. What regulatory and ethical challenges do you identify in this process in Mozambique, and what measures do you consider essential to ensure institutional trust and integrity?
HM: The main challenges I identify in the strategic use of data are clear. Firstly, I see the absence of a robust legal framework that guarantees the protection of personal and financial data. Secondly, we face the risk of digital exclusion, where only a portion of the population can benefit from the digital ecosystem, leaving many without access to essential services.
Finally, we deal with fraud and misuse of sensitive information, a consequence of the lack of effective oversight mechanisms. To mitigate these risks, we believe three structural measures are essential. The first is the approval and implementation of a data protection law adapted to the Mozambican reality.
The second is the creation of an independent regulatory body, capable of guaranteeing transparency, security, and continuous oversight. The third involves promoting ethical data governance practices, including regular audits and digital education programs for society. Without trust and institutional integrity, we affirm, data loses its economic value and ceases to be an instrument of development.
PM: In the medium term, how do you envision the role of data in financial management in Mozambique? What structural changes may result from the combination of data, artificial intelligence, and financial innovation for the sustainable development of the country?
HM: We identify significant challenges in the strategic use of data. Among the main ones, we highlight the absence of a solid legal framework for the protection of personal and financial data, the risk of digital exclusion, which limits access for part of the population to the digital ecosystem, and the occurrence of fraud and misuse of sensitive information due to the lack of effective oversight mechanisms. To address these issues, we consider three measures essential. First, the approval and implementation of a data protection law adapted to our reality.
Second, the creation of an independent regulatory body capable of ensuring transparency and security. Third, the promotion of ethical data governance practices, with regular audits and digital education programs for society. Without trust and institutional integrity, data loses economic value and ceases to be an instrument of strategic development.
