Browsing: Moza Banco
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.
A UK-based development fund, in partnership with the son of the founder of troubled Moza Banco, will hold two public consultations in February on a planned 120 MW hydropower plant on the Púngoé River, which runs between the provinces of Sofala and Manica in central Mozambique. The Pavua [...]
The World Bank Group is joining a commission to work on the rescue of Moza Banco, Mozambique’s fourth largest bank, which was taken under central bank [...]
Moza Banco, currently under emergency administration by the Bank of Mozambique because of “unsustainable” liquidity levels, intends to open four new branches next week in the capital, Maputo, and in the neighbouring city of Matola.
Failed Mozambican bank Nosso Banco never paid a single dividend to its majority shareholder, the public social security fund INSS, which invested half a billion meticais in the bank and deposited almost 3 billion meticais.
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 [...]
A commercial bank majority-owned by Mozambique’s public social security fund is to be liquidated by the Bank of Mozambique, with individual depositors set to lose any deposits over 20,000 meticais and business accounts to be left with no apparent recourse. [...]
Mozambique’s state-owned airports company is in grave financial difficulties and will rely on continued support from the government to stay afloat, its latest published accounts has revealed. The accounts also show [...]