History of Mozambique 10 years of sporadic warfare and Portugal's return to democracy through a leftist military coup in Lisbon, which replaced Portugal's Estado Novo regime with a military junta (the Carnation Revolution of April 1974), FRELIMO took control of the territory. Within a year, most of the 250,000 Portuguese in Mozambique had left—some expelled by the government of the nearly independent territory, some fleeing in fear—and Mozambique became independent from Portugal on 25 June 1975. A law had been passed on the initiative of the then relatively unknown Armando Guebuza of the FRELIMO party ordering the Portuguese to leave the country in
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