Browsing: Finance

Economy Credit Suisse arranged the ProIndicus and EMATUM loans.
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The Mozambique government has offered EMATUM bond investors an interest rate of 10.5% per year on up to $585.5 million worth of new government debt, to be repaid in 2023. The bond will be offered in exchange for the existing $697 million in EMATUM bonds [...]

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Business A branch of Barclays Bank in Maputo. Photo © Tom Bowker / Zitamar News
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British banking group Barclays today confirmed its intention to sell its majority stake in its African banking arm Barclays Africa Group Limited (BAGL), in order to reduce its exposure to new rules governing globally significant banks, and to focus on its [...]

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Economy Bank of Mozambique governor Ernesto Gove and the executive board, November 2015. Photo: Bank of Mozambique
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The Bank of Mozambique raised interest rates again yesterday, despite warnings from the International Monetary Fund (IMF) that its actions have little effect on inflation in Mozambique, which hit 11.6% over the past 12 months.

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Finance Bank of Mozambique governor Ernesto Gove and the executive board, November 2015. Photo: Bank of Mozambique
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The Bank of Mozambique has denied it has any intention to forcibly convert dollar-denominated accounts at Mozambican banks into meticais, insisting everything it is doing to stabilise the currency is in line with existing foreign exchange [...]

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