Mozambique does not yet have specific law on beneficial owners. The government recently reinforced certain legal frameworks to include provisions obliging companies that establish commercial relations with the state to register and declare their beneficial owners. The measure is a step towards the transparency of beneficial owners. However, the reforms that have been made are rather deficient and, in practice, hinder effective public scrutiny of companies that establish commercial relations with the state. The lack of transparency of the beneficial owners of entities that do business with the state favours corruption, especially in the extractive sector and in public procurement. This paper presents the main legal reforms carried out by the government to promote transparency of beneficial owners and analyses their main limitations, with a focus on their implications for the extractive industry and public procurement, which are two areas extremely exposed to corruption risks. The paper is the result of documentary research complemented by literature search.
