Mozambican Civil War FRELIMO within a year and to form a transitional government in the interim. When this was made known to the public, several thousand Portuguese colonials fled the newly independent country and a clandestine group calling themselves the "Dragons of Death" seized the primary radio transmittor in the capital, Lourenço Marques, and demanded an independent Mozambique without FRELIMO. As a result of the mass exodus of trained professionals, the economy and social organization of Mozambique was shattered on independence. On 25 June 1975 Mozambique became independence from Portugal, with Samora Machel becoming President of the People's Republic of Mozambique. The independence
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