Assembly elects members of wealth fund supervisory committee

Maputo, 1 Aug (AIM) – The Assembly of the Republic (AR), the Mozambican parliament, on Wednesday chose the nine figures who will be members of the Supervisory Committee of the country’s Sovereign Wealth Fund.

The composition of the Sovereign Fund Supervisory Committee includes two members from Civil Society Organizations; two representatives from the academic world; two representatives from religious associations, plus one representative from the business community; one representative from the Mozambican Association of Accountants and Auditors, and one representative from the Mozambican Bar Association.

The Committee will control sovereign wealth fund revenues from the production of liquefied natural gas from offshore areas 1 and 4 of the Rovuma Basin, in the northern province of Cabo Delgado.

It will also oversee the revenue achieved in the first 15 years of the operation of the sovereign wealth fund, of which 40 percent is earmarked for the fund and 60 percent for the State Budget.

The committee will report directly to the Assembly through a quarterly statement.

The nine personalities chosen by the Assembly’s deputies are:

Benilde Nhalivílio and Estrela Eduardo, from Civil Society; Inocêncio Paulino, from the business community; academics Emanuel Chaves and Alcides Novela; lawyer Celestino Sitoe, from the Mozambican Bar Association (OAM), Altino Mavile, representing the Mozambican Association of Accountants and Auditors; and António Sandramo and Mussa Suefe, from the religious community.

Those personalities who did not have enough votes are: Tomás Vieira Mário, Denise Namburete, and Rui Mate, from the Civil Society Organizations; Filipe Sitoe, Manuel Sibia, Vitória Afonso Langa, Isabel Vilanculos, from academia; and Osório Afonso and Inácio Lucas, from the religious community.

76 candidates from various organizations put their names forward to be part of the Supervisory Committee.

According to the chairperson of the Ad-Hoc Committee to select candidates for membership, Vitória Diogo, some candidates did not meet the requirements, after a thorough analysis of documents.

“We carried out a thorough analysis of the curriculum vitae, which was the basis for the classification, looking at the candidates’ educational qualifications and breadth of training”, she said.

(AIM)

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