Zitamar Daily Briefing, 23 July 2018
Welcome to Zitamar’s daily Mozambique briefing for 23 July, 2018. Agenda Today: Launch of the…
Browsing: Paul Kagame
Mozambique public pension fund sank 3.5bn meticais into failed Nosso Banco
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.
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Bank of Mozambique shuts down another failing bank
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. [...]
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