Portugal’s Banco Espírito Santo prepares to enter Mozambican market

28 September 2009

Maputo, Mozambique, 28 Sept – Portuguese bank, Banco Espírito Santo (BES) is soon expected to make official its request to enter the Mozambican market, the bank’s chief executive, Ricardo Salgado said in Maputo.

“The request ahs already been made, but we have to make its official for the Mozambican and Portuguese authorities. The Bank of Portugal has to give us prior authorization for us to come to Mozambique, and we believe there won’t be any problems,” Salgado said, cited by Newspaper, “O País.”

According to the paper Salgado explained that BES was still looking into how it would operate in the Mozambican market, whether that would be based on partnerships or direct entry to the market.

“We know that the biggest challenges that Mozambique is facing are in the area of infrasructures and in that area our invetsment bank is one of the strongest in Europe. And we can also contribute in that field in Mozambique,” Salgado said. (macauhub)