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.

PROFILE Mozambique: Vivo Energy Mozambique recently signed a memorandum of understanding with Vodafone M-Pesa. What does this partnership mean for the company and for Mozambican consumers?

Hugo Narcy: Vivo Energy represents the Engen brand and Shell lubricants, with a nationwide presence of around 60 service stations. These stations, both formal and informal, act as true hubs, attracting a diverse flow of clients every day, many of whom are already users of technological platforms such as M-Pesa.

That is why this partnership makes perfect sense. We want to provide more convenient solutions, not only for those refueling but also for those using our convenience spaces. The integration of M-Pesa payment solutions at Engen stations will bring customers closer to the final product through a faster, safer and simpler experience.

This, however, is only the first initiative. By combining M-Pesa’s technological strength and its statistical and financial analytics capabilities with our physical market presence, serving passengers, transport operators and consumers at large, we believe it will be possible to create synergies across multiple areas. Our goal is to deliver innovative, accessible solutions with a real impact on the national economy, strengthening financial inclusion and providing alternatives aligned with the lifestyle of Mozambicans.

PM: When is this initiative expected to go live on the ground?

HN: The roll-out of this initiative is scheduled within the next three to four weeks, possibly even sooner. In fact, the pilot phase is already underway, and the go-live will be very soon. In just a short time, all our customers will be able to access M-Pesa and use the product developed in partnership with Vivo Energy.

At an initial stage, we will also launch a M-Pesa Vivo card, designed to complement the digital experience. From there, we will proceed with a gradual, structured expansion of the solution, adapting it to market needs. Of course, we cannot reveal every detail just yet, but what we can assure is that this is only the beginning of a process with significant potential to transform the way consumers interact with our services.

PM: Could you share how Vivo Energy is positioned in the market right now, particularly within the sector you operate?

HN: As with almost every sector, we were impacted by the shocks recorded in the third and fourth quarters of last year. We still feel some of the effects of that environment, but we managed to stand back on our feet and design a strategy based on essentials, focusing on the basics and ensuring we are doing the right things at the right time.

In this context, we cannot yet talk about growth, particularly because restrictions on fuel imports remain in place. These are structural challenges that we are working to overcome in coordination with the regulator, the Central Bank, Government, and other private operators in the sector.

PM: And how does the shortage of foreign currency affect your operations, both in terms of managing activities and business development?

HN: More than the shortage of foreign currency itself, what we have been facing are major difficulties in imports, caused by a combination of factors. Naturally, the exchange rate issue is relevant, but it is not the only point of concern.

What we have sought to do is design a strategy that secures the minimum necessary conditions to ensure the continuity of our operations. Like other fuel companies, we are working closely with the Central Bank, commercial banks, the regulator, and other sector partners to find solutions that allow us to overcome this scenario.

It is worth noting that in the past two to three months we have already seen some improvements, which gives us confidence that, gradually, we will reach a more favorable balance for both our business and the sector as a whole.

PM: What are the main challenges that persist and continue to weigh on the fuel sector in the country?

HN: More than a challenge unique to fuel companies, we are dealing with a reality that affects the entire industry. It is undeniable that recent events, such as protests, the electoral period, and the difficult environment we are going through, had a direct impact on the wallets of Mozambican citizens.

Naturally, this has been reflected in consumption volumes, the performance of our business, and the sector’s ability to respond. The effort we have been making is precisely to break this adverse cycle and move towards a more favorable one.

It is a process that will take time, but we believe that, step by step, the Mozambican economy is showing signs of recovery, creating space for the sector to regain stability and resume generating value for all stakeholders.