24 April 2024

Pioneering pension fund management in Mozambique

| The European |

Moçambique Previdente, S.G.F.P., S.A., is a burgeoning private investment company that specialises in pension fund management in Mozambique. The company entered the country’s financial sector during the first quarter of 2013 and managed three pension funds. Almost four years later, it experienced remarkable growth and saw its number of funds increase.

The company’s role is to provide better pensions to corporates and the wider public. Mozambique has its own social security system that provides basic welfare coverage for those employed in the formal sector. However, there is no coverage for those who are self-employed and there is a need for a value added pension fund that is complementary to the state’s social security scheme. There is also a demand for a range of wealth creation vehicles for those who are able to save and want to invest in their own private pension fund schemes.

The strategic vision of Moçambique Previdente is to consolidate itself as a financial institution of excellence and become the market leader in pension fund management and wealth creation in Mozambique. There is an important contribution to make in the development of the national economy through the creation of investment vehicles and the application of the fund’s returns. There is a belief that the growth of Moçaambique Previdente’s business benefit the Mozambican economy and society in general.

A more comprehensive range of products tailored to individual savers is about to be launched, in order to provide clients – both public and private sector – with a full range of pension fund schemes.

Investing in a pension funds is more than just a new way of saving. It is a proactive form of saving for your retirement and there is immediate access to benefits such as, life insurance, funeral cover and home loans.

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