The Bank of Mozambique (BM) announced this Tuesday the banning of 15 institutions providing credit services in the country.

The institution's statement does not reveal the reasons for this measure.

"The Bank of Mozambique, within the scope of its attributions, communicates to all interested parties and the general public, the cancellation of the registration of microcredit operators," reads the document.

The note states that these institutions will no longer be able to operate in the domestic market.

"[They will not be able to] continue to engage in the business of granting credit," the WB writes.

Our newsroom contacted the Bank of Mozambique, this Wednesday, to get clarification on the reasons that led to the withdrawal of the licenses of those targeted in the statement. The WB promised to respond, but until the publication of this article we have not obtained any justification from the bank.

The list of names and institutions

Renato Jeremias Langa (RLX Microcredit, E.I.); Prudêncio Marrumbe (Tchizenda Microcredit, E.I.); Jude Novela (Prosap Microcredit, E.I.); César Vaz, represented by Dorinda Eduardo (Kochukuro Microcredit, E.I.); Nádia Magirá (Nathau Microcrédito, E.I.); Luísa Raso (Microcrédito Essência, E.I.); Tomé Vitela Kuanza (Grémio Microcrédito, E.I.); Orlando Machava (Lenira Microcrédito, E.I.); Gildo Paúnde Macamo (Sezinai Microcrédito, E.I.); Paulo Carlos Tivane (Bom Microcrédito, E.I.); Arcélio Carlos Tivane (Eco Créditos, E.I.); Helton António Tomé Mulana (Khulula Microcrédito, E.I.); Osvaldo Chongola (Canaã Microcrédito, E.I.); Óscar Fernando Nhamposse (Txeneca Microcrédito, E.I.) and Abibo João Jacinto (Capital Giro MCG, E.I.).