Browsing: Finance

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

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

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Finance Rogério Zandamela at his swearing-in ceremony, 1 September 2016. Photo © Simon Kamm / Zitamar News
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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 [...]

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Business A branch of BancABC in Maputo, Mozambique
Photo © Simon Kamm / Zitamar News
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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 [...]

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