Mozambique Central Bank Slashes Foreign Card Payment Limit by Half

Africa · Southern Key Facts —New annual cap. Banco de Moçambique set a 6 million metical (US$94,000) yearly limit on overseas card payments per holder. —Hard enforcement. Banks must block cards once the limit is reached and notify clients at the halfway mark. —FX scarcity. The move aims to defend dwindling foreign-exchange reserves amid acute…