Mozambique–South Africa relations government. When Mozambique gained independence from Portugal in 1975, thousands of Mozambique-born Whites moved across the border to South Africa, the descendants of which are today Portuguese South Africans. The Shangaan or Tsonga people live on both sides of the Mozambique–South Africa border. Black movement between the two states existed to a large extent due to the possibility of employment of Mozambicans in the mines of South Africa. The cross-border remissions form an important part of the Mozambican economy. South Africa played an important role in the Mozambican Civil War in supporting RENAMO against the FRELIMO government. South Africa and
Bank of Mozambique Bank of Mozambique The Bank of Mozambique () is the central bank of Mozambique. The bank does not function as a commercial bank, and has the responsibility of governing the monetary policies of the country. The president of the Republic appoints the governor. The bank is situated in the capital, Maputo, and has two branches, one in Beira and one in Nampula. The Bank of Mozambique is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion. Most of Mozambique was a Portuguese overseas territory for several centuries. After independence in 1975, the newly