Finance Archives - Page 5 of 9

Economy

Mozambique's Ministry of Finance, Maputo © Tom Bowker / Zitamar News

21. March, 2017 0

Mozambique to default again on ‘hidden debt’ payment due today

Mozambique’s finance ministry has confirmed the country will not pay the first full instalment on the sovereign-guaranteed loan taken out by state-owned security firm ProIndicus. The payment, [...]

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Economy

14. March, 2017 0

Mozambique currency shrugs off sovereign default to firm up against the dollar

Mozambique’s currency, the metical, has recovered ground against the dollar despite a sovereign default in January, with economists now increasingly bullish about its prospects for the rest of the year. South [...]

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Finance

The new headquarters of Société Générale in Maputo.

2. March, 2017 0

Société Générale won’t rule out M&A to hit 10% market share in Mozambique

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

Finance Minister Adriano Maleiane addressing journalists in Maputo, 28 April 2016. © Tom Bowker / Zitamar News

28. February, 2017 1

Mozambique aims to have debt restructure proposal by end of March – report

Mozambique is aiming to have a “concrete proposal” for its creditors by the end of March to start negotiations to restructure the country’s commercial foreign debt, Finance Minister

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Economy

The Bank of Mozambique. Photo © Timothy Haccius / Zitamar News

14. February, 2017 0

Bank of Mozambique rescinds capital control measure, announces new policy tool

The Bank of Mozambique yesterday held its benchmark interest rates steady, as expected, but announced a surprise reversal of a policy [...]

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Economy

The Bank of Mozambique's Monetary Policy Committee press conference in December 2016. Photo © Alexandre Nhampossa / Zitamar News

13. February, 2017 0

Bank of Mozambique seen holding rates while opinions differ on metical performance

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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Finance

Moza Banco interim CEO João Figueiredo opening a new branch, November 2016.

8. February, 2017 0

Atlas Mara and others prepare bids for Mozambique’s Moza Banco

Potential buyers of Moza Banco, including pan-African banking group

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Business

1. February, 2017 0

Moza Banco owner seeks shareholder cash injection to keep control of bank

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

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Business

A Moza branch in Maputo. Photo © Tom Bowker / Zitamar News

23. January, 2017 0

Moza Banco shareholders agree 8bn MZN recapitalisation

The owners of Moza Banco have decided to recapitalise the bank to the tune of eight billion meticais - matching the figure that the central bank spent bailing it out - following an extraordinary general meeting of Moza’s shareholders.

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Finance

Maputo's downtown financial district. Photo © Tom Bowker / Zitamar News

20. January, 2017 0

Mozambique must restructure debt by March deadline to avoid banking ‘chaos’

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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Intelligent news from Mozambique

Chevron swoops for Anadarko as Mozambique LNG FID looms

Floods leave thousands homeless, and halt Vale coal exports from Tete

Frelimo holding company sells cement plant stake in $85m deal

Head of Cyclone Idai aid distribution company previously fired over fraud

Head of Cyclone Idai aid distribution company previously fired over fraud

Mozambique close to MAM restructure deal, but will let ProIndicus go bankrupt

Chevron swoops for Anadarko as Mozambique LNG FID looms

Floods leave thousands homeless, and halt Vale coal exports from Tete

Frelimo holding company sells cement plant stake in $85m deal

Head of Cyclone Idai aid distribution company previously fired over fraud

Head of Cyclone Idai aid distribution company previously fired over fraud

Mozambique close to MAM restructure deal, but will let ProIndicus go bankrupt

Browsing: Finance

Mozambique to default again on ‘hidden debt’ payment due today

Mozambique currency shrugs off sovereign default to firm up against the dollar

Société Générale won’t rule out M&A to hit 10% market share in Mozambique

Mozambique aims to have debt restructure proposal by end of March – report

Bank of Mozambique rescinds capital control measure, announces new policy tool

Bank of Mozambique seen holding rates while opinions differ on metical performance

Atlas Mara and others prepare bids for Mozambique’s Moza Banco

Moza Banco owner seeks shareholder cash injection to keep control of bank

Moza Banco shareholders agree 8bn MZN recapitalisation

Mozambique must restructure debt by March deadline to avoid banking ‘chaos’

Zitamar Daily Briefing, 12 April