Africa > East Africa > Mozambique > Banking / Investment

Banking / Investment in Mozambique

  • Africa's last international banks make their stand

    BOTSWANA, 2017/10/31 On June 1, 2017, Barclays sold a 33.7% stake in its African business, Barclays Africa Group Limited (BAGL). The transaction reduced the UK lender’s stake in its African offshoot to 14.9% and permitted, in accounting terms, the deconsolidation of BAGL from its parent. Additional symbolically, it brought to an end Barclays’ operations on the continent next additional than 100 years. The rise of Africa’s home-grown financial players has led most international lenders to withdraw from the continent. However, Société Générale and Standard Chartered are not only staying put but marking territory for digital expansion. James King reports.
  • Why governments need to support the financial sector to meet the unserved needs of smallholder farmers

    BOTSWANA, 2017/09/09 This year, under the leadership of H.E. President Alassane Ouattara and the theme of “Accelerating Africa’s Path to Prosperity: Growing Inclusive Economies and Jobs through Agriculture”, the African Green Revolution Forum (AGRF) 2017 is shaping up as a premier platform to showcase ongoing evolution in Africa’s agricultural transformation schedule and to scale up the political, policy, and financial commitments needed to achieve the Malabo Declaration and the world development schedule around the Sustainable Development Goals (SDGs). Following the launch of the landmark annual Africa Agriculture Status Statement (ASSR) at the AGRF taking place in Cote d’Ivoire from 4-8 September 2017, the major conclusion centres around the power of entrepreneurs and the free market in driving Africa’s economic increase from food production. This is owing to the fact that a lot of businesses are waking up to opportunities of a rapidly growing food market in Africa that may be worth additional than $1 trillion each year by 2030 to substitute imports with high price food made in Africa.
  • Shaken but not stirred: Mozambique's banks look forward with optimism

    MAPUTO CITY, 2017/06/24 At the same time as Société Générale Moçambique (SGM) opened a gleaming new headquarters in Maputo in March, the ceremony marked not only a new phase in the French group’s expansion in sub-Saharan Africa, but as well a demonstration of confidence in a country that has been battered over the completed two years by an economic downturn, a deficit crisis and two bank failures. The 'tuna bond' scandal, donor suspensions, a sharp rise in inflation rates and slower economic growth have made for a difficult operating environment for Mozambique's banks in the past couple of years. However, Peter Wise discovers a sector where optimism very much prevails.   Speaking at the inauguration, Alexandre Maymat, the chief of African operations at Société Générale, said SGM planned to grow through a two-pronged strategy of mobile banking and extending its retail franchise across Mozambique, adding that Africa could become a model for additional mature, developed economies in the deployment of mobile banking technologies.
  • Mozambique: Manuel Chang Signed Loan Guarantees

    RUSSIA, 2016/10/19 Guarantees for $2 billion secret loans were signed by the again Finance Minister Manuel Chang, according to @Verdade (11, 12 Oct) which published pages from the agreements. The guarantees were in 2013 to Credit Suisse and in 2014 to the Russian national-owned bank VTB.
  • Finance Minister of the Year 2016

    NEPAL, 2016/01/10 Finance Minister of the Year 2016 awards celebrate the officials that have best managed to stimulate increase and stabilise their economy. Global and Asia-Pacific Ram Sharan Mahat, former finance minister, Nepal Ram Sharan Mahat receives The Banker’s World and Asia-Pacific Finance Minister of the Year awards for his exemplary work in the aftermath of the two disastrous earthquakes that hit Nepal in 2015 and in pushing for reforms to improve governance in the country’s ministry of finance.
  • US private investment in Mozambique exceeded US$16 billion

    UNITED STATES, 2015/09/29 US private investment in Mozambique exceeded US$16 billion in the completed decade, the deputy minister for Foreign Affairs, Nyeleti Mondlane said Thursday in Maputo, the Mozambican press reported. “So far, 24 projects have been approved that are likely to create about 4 million jobs, involving private investors in the United States, totalling US$16 billion dollars in the oil and gas sector, agriculture, industry, transport, tourism and services,” said the deputy minister for foreign affairs. The level of trade relations is as well encouraging and both nations have recorded increase in trade, with exports of about US$62 million by Mozambique to the United States in 2012 to about US$144 million in 2013, said Mondlane speaking on the 40th anniversary of the establishment of diplomatic relations.
  • President of Portugal says investment in Mozambique is a success story

    MAPUTO CITY, 2015/07/18 Portuguese companies have shown openness to new markets and new partnerships, and Mozambique has been a “appropriate” case, said Thursday in Lisbon the President of Portugal, Aníbal Cavaco Silva. “At a time at the same time as the Portuguese business sector has demonstrated capacity and competitiveness in opening up to new markets and establishing new partnerships, a country like Mozambique justifies, and has deserves appropriate attention,” said Cavaco Silva at a dinner held in honour of the Mozambican President, Filipe Nyusi in the Ajuda Palace in Lisbon.
  • Standard Bank Mozambique finances investments of US$500 million in 2014

    MOZAMBIQUE, 2015/01/22 Standard Bank Mozambique granted credit worth US$500 million for investment in various economic sectors over the completed year, the bank said in a statement sent to Macauhub in Maputo. The telecommunications, construction, agri-industry, manufacturing, mining and infrastructure sectors were the major areas for which the bank granted loans, according to its Director of Corporate and Investment Banking, André du Plessis, cited in the document. Noting some of the biggest investment projects supported, Standard Bank Mozambique referenced the expansion of the Sena railway line in the centre of the country, currently the major vehicle used by mining companies operating in the Moatize district, Tete province, to export coal and with an annual cargo capacity of about six million tons, managed by the Mozambican port and railway company CFM.
  • East Africa: Regional Microfinance Institutions Advised to Apply for Observer Status

    DJIBOUTI CITY, 2015/01/04 Regional microfinance institutions are poised to benefit from regional integration, if they apply for an observer status at the East African community secretariat, Innocent Safari, the permanent secretary, Ministry of East Africa community affairs has said. The advice follows plans by sector players to move towards integrating legal and regulatory frameworks during the recently concluded microfinance CEO's summit in Kigali. During the summit, top micro finance managers resolved to explore ways in which laws, regulations and supervisory frameworks governing the sector can be harmonised to enhance cross-border business.
  • The Monetary Policy Committee of the Bank of Mozambique,

    MOZAMBIQUE, 2014/10/19 The Monetary Policy Committee of the Bank of Mozambique, conference in Maputo on Friday, decided to keep the bank's key interest rates unchanged for at least an extra month. The statement issued by the Committee said that the Standing Lending Facility (the interest rate paid by the commercial banks to the central bank for money borrowed on the Interbank Money Market) will remain at 8.25 %. The Standing Deposit Facility (the rate paid by the central bank to the commercial banks on money they deposit with it) remains at 1.5 %, and the Compulsory Reserves Coefficient - the all of money that the commercial banks must deposit with the Bank of Mozambique - is as well unchanged at eight %.