Browsing: Atlas Mara

Finance A branch of Moza Banco in the town of Chicualacuala, opened in May 2017. Photo: Moza Banco
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The new owner of Moza Banco, one of Mozambique’s biggest commercial banks, will be decided by 9 June by an evaluation commission made up of representatives of the Bank of Mozambique and the World Bank Group’s IFC, and the interim CEO of the bank, after the [...]

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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

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Business Bank of Mozambique director Joana Matsombe addresses journalists on 18 November 2016. Photo: Bank of Mozambique
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The Bank of Mozambique said on Friday, 18 November, that all remaining banks in the country are healthy, in a press conference aimed at dampening speculation that more banks will fail. Such speculation, the Bank said, has led to widespread withdrawals of [...]

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Business Bank of Mozambique governor Rogério Zandamela addressing journalists on 21 October 2016. Photo © Tom Bowker / Zitamar News
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First Moza, now Nosso Banco – with two failed banks in less than two months in a distressed economy, there is a broad expectation in the market that other banks could be in danger. A look at what the two failed banks have in common provides some clues [...]

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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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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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