Absa Bank won this year's award for "Best Bank for Small and Medium Enterprises (SMEs) in Mozambique", awarded by the British magazine Global Banking & Finance Review, one of the most prestigious international publications specializing in financial markets and analysis of the banking sector.

In a press release, the bank said that this distinction shows its commitment to national SMEs, which play a key role in development and represent more than half of Mozambique's total business universe.

Quoted in the same press release, the Managing Director of Absa Bank Mozambique, Pedro Carvalho, pointed out that the country's economic development is the result of the efforts and contributions of various players, including small and medium-sized enterprises, insofar as they contribute to the creation of jobs, stimulate and provide products and services, and increase the competitiveness of the economy.

"We understand the unique needs of SMEs and work tirelessly to offer innovative and personalized financial solutions that drive their success. This award is a testament to the hard work and dedication of our entire team, which strives every day to provide exceptional service to our customers," said Pedro Carvalho, stressing that Absa Bank Moçambique has encouraged partnerships and sought to present the best banking solutions for this segment.

Carvalho went on to say that international recognition, combined with local initiatives, demonstrates that Absa Bank not only understands the challenges faced by SMEs, but that it is also equipped to offer effective and innovative solutions that boost the success of companies and, consequently, Mozambique's economic progress.

In 2023, Absa Bank formalized agreements with various entities with a view to boosting the development of SMEs and encouraging the revitalization of the national economy. As part of this initiative, the offer of relevant services to economic agents was strengthened, which contributes to the expansion of business and investment opportunities. This partnership has given Absa greater and better visibility of the needs of SMEs, which has allowed it to redefine an offer that better meets the needs of this segment.

(Photo DR)