The Bank of Mozambique on Friday hiked its lending and deposit rates by a startling 600 basis points, pushing the lending rate to a
The head of Mozambique’s stock market, Anabela Chambuca, has left the institution to head up the Office of the President’s Wife, four years after she was appointed as CEO. The Bolsa de Valores de Moçambique (BVM) [...]
South Africa’s Nedbank has completed its acquisition of 50% plus one share of Mozambique’s Banco Único, at a knockdown price thanks to the fall in the value of the Mozambican metical since Nedbank announced its intention.
Mozambique’s central bank will aim to sell Moza Banco in the next six months, after taking it into administration on Friday, saying its financial and [...]
Moza Banco, Mozambique’s fourth largest bank, has became financially “unsustainable”, leading the Bank of Mozambique to appoint an interim board to take charge until the situation is resolved. The interim board will be chaired by João Filipe Figueiredo, a former CEO of the country’s biggest [...]
Mozambique's central bank has finally moved to deny reports that it has imposed new limits on the withdrawal of cash from foreign currency-denominated bank accounts in Mozambique, more than a month after some banks slashed their limits for clients. Standard Bank has limited its customers to [...]
Rogério Zandamela on Thursday was sworn in as new governor of Mozambique’s central bank, saying he was determined to do his part to restore the country’s credibility, and regain international confidence in the Mozambican economy. “It will require hard work [and] enormous sacrifices in order [...]
Atlas Mara, the African banking group founded by former Barclays CEO Bob Diamond, has appointed Eduardo Mondlane Jr. to head up its Mozambique banking operation, 18 months after the son of Frelimo’s founding president was appointed to the Atlas Mara board. Mondlane Jr. takes over from [...]