The number of financial transactions between banks and electronic money is on the rise in the country. In recent years, transfers from commercial banks to e-money institutions have risen from 61,000 to 888,000 transactions. The figures were released in Beira, Sofala province, by the Governor of the Bank of Mozambique, Rogério Zandamela,...
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Mozambican financial legislation now compiled in a book
As of Tuesday, September 26, Banking, Insurance and Securities will have at their disposal an important consultation document that aims to create facilities for all those seeking pertinent and necessary information regarding the sector. This is "Colectânea de Legislação Financeira de Moçambique", launched by Mozambican Alcides Mungoi with the...
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Credit to the economy down 6% in June
Credit granted to companies fell by just over 6% in June compared to the same month last year, reports the newspaper "O País", citing the Bank of Mozambique's report on Credit Statistics for the Economy. Meanwhile, in the same period, credit to families increased by 21%. Overall, says the source, the...
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University Graduates: Standard Bank has absorbed 87% of specialized banking graduates since 2007
On July 7 in Maputo, Standard Bank held the closing ceremony of the 15th edition of the Graduate Development Program 2022-2023. This program trained 43 young Mozambicans, recent graduates from various national and international universities, recruited through a meticulous selection process, which allowed them to demonstrate their potential. With...
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CIP reveals the pattern of state capture by the private sector, especially banking
The Mozambican state is captured by the private sector or private interests, according to the Center for Public Integrity (CIP), which points to the recent appointment of the former Prime Minister of Mozambique, Carlos Agostinho do Rosário, to the position of Chairman of the Board of Directors (PCA) of Banco Comercial de Investimentos (BCI). CIP notes that the "revolving doors" phenomenon,...
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Moody's forecasts "solid profits" for banks in 2023
Financial rating agency Moody's expects "solid profits" for banks in 2023, with rising interest rates and strengthened balance sheets offsetting the global economic slowdown. "Global banks will be protected from rising non-performing loans in 2023 by rising interest rates and solid reserves and the...