On Thursday (06), the Bank of Mozambique (BM) suspended EcoBank from the Market Operations System, according to a note from the Markets and Reserve Management Department. As a result, Ecobank is prohibited from participating in the Interbank Foreign Exchange Market and the Interbank Money Market, says a note from the BM, without giving reasons for the decision....
The Bank of Mozambique (BM) could absorb around 62 billion meticais from the commercial banks in the national banking system as a result of the increase in the mandatory reserves coefficient. The "hemorrhagic" account of the transfer of resources, namely 45 million meticais and 245 million dollars, comes from the Mozambican Banking Association, quoted last week...
The Mozambican Association of Banks (AMB) announced today that Mozambique's benchmark interest rate for December will remain for the third consecutive month at 18.6%. The rate calculated by AMB and Banco de Moçambique is based on a single index of 13.3% (calculated by the Central Bank) which remains unchanged and a premium...
The benchmark interest rate for the month of November will remain at 18.6% for the second consecutive year, the Mozambican Association of Banks (AMB) said. The AMB rate is calculated by the Bank of Mozambique (BM) based on a single indexer of 13.3% that remains unchanged and a cost premium of 5.3%....
The World Bank (WB) announced Wednesday that it will donate $150 million to Mozambique's Digital Economy and Governance Project (EDGE). The purpose is to facilitate access "to civil identification, digital public services and improve digital business opportunities." The WB underpins this support by the fact that more than half...