Absa Bank Moçambique took part in the 10th edition of the Mozambique Mining and Energy Conference and Exhibition (MMEC), which on May 2 and 3 brought together government officials, businesspeople and specialists in the mining and oil and gas areas.

Under the theme "Partnerships for Prosperity: Unlocking Mozambique's Resources to Advance National and Regional Economic Growth", the 2024 edition of MMEC debated ideas and provided up-to-date knowledge and content on development and prospects in the Mozambican mining and energy sectors on a global stage.

Absa Bank Moçambique sponsored the event and was present at the debates. The head of Corporate and Investment Banking, Patrícia Darsam, took part in the panel "Unlocking Mozambique's LNG Potential: Promoting Optimal Investment across the Gas Value Chain".

"We recognize Mozambique's rich potential and believe that the country can position itself as a major development partner in the region in the years ahead.

In this sense, there is a need to create partnerships with multilateral organizations and development institutions so that Mozambican commercial banks can be present and participate in these development projects aimed at the country's growth," he said.

Absa Banck's involvement in the Oil & Gas sector in the country was highlighted, materialized through a specialized team that supports the sector, providing appropriate solutions according to the various stakeholders along the energy sector's value chain.

"It's important to mention our role as a commercial bank in Mozambique, which is also to support the development and sustainability of Mozambican companies and look at local content. We have developed partnerships in this regard, such as MozUp, to ensure that SMEs gain sufficient strength and become a relevant support sector in terms of services for the value chain of the Mozambican manufacturing sector. oil and gas and other critical sectors of the national economy," he concluded.

In 2023, Absa Bank Mozambique and MozUp strengthened their partnership, committing themselves to developing solutions to promote the sustainability and development of Small and Medium-sized Enterprises (SMEs) in accessing major projects and markets. To date, Absa and MozUp have worked together with 460 Mozambican SMEs, helping to improve their potential and overall performance.