Banco Comercial de Investimentos to issues Visa cards for Moza Banco in Mozambique

30 June 2009

Maputo, Mozambique, 30 June – Mozambican bank Banco Comercial de Investimentos (BCI) is to issue credit cards for Moza Banco, a bank that is part-owned by Macau gaming and gambling magnate, Stanley Ho, under the terms of an agreement signed Monday in Maputo by the two Mozambican banks.

The agreement, signed by the chairmen of BCI, Ibrahimo Ibrahimo, and Moza Banco, Prakash Ratilal, outlines that BCI will issue VISA cards for Moza Banco.

“This agreement is an important step for Moza Banco to immediately join the VISA network, which will provide its customers with access to an important method of payment for their every day spending, which is valid all over Mozambique and in any other country,” said a BCI press release.

As well as issuing the VISA cards, BCI will provide the technological platform needed to process the transactions.

BCI, which is majority-owned by Portuguese state banking group Caixa Geral de Depósitos (CGD), and is the second-largest bank in Mozambique with a market share of over 30 percent.

Moza Banco, which was founded a year ago, is owned by Moçambique Capitais, which has a 51 percent share and by Geocapital, a company owned by Stanley Ho and Jorge Ferro Ribeiro, with 49 percent.(macauhub) (macauhub)