The Bank of Mozambique (BdM) and the Mozambican Banking Association (AMB) have set the Prime Rate for credit institutions at 19% for the month of January, down from 19.7% in December. This rate in the Mozambican financial system is the only...
Tag: Bank of Mozambique
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Bank of Mozambique appoints resident inspector at Absa Bank
Banco de Moçambique has just appointed Osvaldo Benedito Chiluvane, a senior staff member of the institution, as resident inspector of Absa Bank Moçambique, with effect from December 18, 2024. In a statement sent to our newsroom, Banco de Moçambique justifies the appointment by the need to strengthen the monitoring...
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Banking activity in Mozambique grew by 8.38% to 961.6 MM meticais in the first half of the year
Banking activity in Mozambique, measured by total assets, stood at 961.68 billion meticais in June 2024, which represents annual growth of 8.38% compared to the same period in 2023, and 4.70% compared to the previous six months. According to the Bank of Mozambique's (BdM) financial stability bulletin, released yesterday...
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Bank of Mozambique warns that domestic public debt is still too high
The Monetary Policy Committee (CPMO) of the Bank of Mozambique (BdM), which decided this Wednesday (27) to reduce the monetary policy interest rate, MIMO rate, from 13.50 % to 12.75 %, warns that the pressure on domestic public debt remains high. "The domestic public debt, excluding loan and lease agreements...
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Bank of Mozambique cuts monetary policy rate again
The Bank of Mozambique (BdM) announced today, through the Monetary Policy Committee (CPMO), a new cut in the monetary policy interest rate, known as MIMO, from 13.5%, in force since the end of September, to 12.75%. According to the BoM, "this decision is underpinned by the continued consolidation of the outlook for single-digit inflation in...
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Bank of Mozambique appoints resident inspectors of BCI and Standard Bank
The Bank of Mozambique has appointed two new resident inspectors of commercial banks in the national financial market. They are Adelina José Chilaúle, who will be working at Banco Comercial e de Investimentos, S.A.; and Cláudio Júlio Mangue, who will be working at Standard Bank, S.A. A statement from the Central Bank sent to us today...
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BM sets minimum share capital for guarantee fund at 30 million meticais
The Bank of Mozambique (BM) has set the minimum share capital for setting up mutual guarantee companies and loan guarantee fund managers in the country at 30 million meticais, writes "Notícias." This is an important step so that financial institutions can have the capacity to absorb potential losses and perform...
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BM says domestic debt has already grown by 90.3 billion meticais by 2024
The Bank of Mozambique (BM) warns that pressure on domestic public debt remains high. According to WB data, domestic public indebtedness, excluding loan and lease contracts and overdue liabilities, stands at 402.7 billion meticais. This figure, according to the...
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Banco de Moçambique and AMB decide to maintain prime rate for October at 21.50%
The Bank of Mozambique (BdM) and the Mozambican Banking Association (AMB) have decided to maintain the prime rate that will apply to credit institutions in October at 20.50%. The information is contained in a document released yesterday, Monday (30), by the two institutions and to which MZNews had access. The prime rate for the...
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Bank of Mozambique cuts policy interest rate to 13.50%
The Monetary Policy Committee (CPMO) of the Bank of Mozambique (BdM) decided yesterday, Monday (30), to lower the monetary policy interest rate, known as MIMO, from 14.25%, in force since July, to 13.50% According to the BdM, this reduction is the result of the "continued consolidation of the outlook for inflation in the single digits in the medium term,...