Browsing: Finance

Finance The new headquarters of Société Générale in Maputo.
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French multinational banking group Société Générale today denied reports that it is in talks to buy Moza Banco - but said it could buy or merge with another Mozambican bank in future in order to reach its target of a 10% retail market share. [...]

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Economy The Bank of Mozambique's Monetary Policy Committee press conference in December 2016. Photo © Alexandre Nhampossa / Zitamar News
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Analysts agree that the Bank of Mozambique will probably hold interest rates steady at its monetary policy committee meeting on Monday, despite a fall in inflation over the last two months. However, there is no agreement on the prospects for the metical in [...]

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Business Mocambique Capitais HQ in Maputo
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Moçambique Capitais, the majority shareholder of Moza Banco, is seeking a cash injection from shareholders so it can fund its share of the MZN 8 billion recapitalisation of Moza Banco and retain control of the bank, Zitamar News has learned. In
Finance Maputo's downtown financial district. Photo © Tom Bowker / Zitamar News
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The Mozambican authorities are working with the International Monetary Fund (IMF) to find a way to stem a series of sovereign defaults which could cause a crisis in the domestic banking system if the next debt payment is missed in March, Zitamar [...]

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