Moza Banco granted right to use “Made in Mozambique” quality mark

29 December 2009

Maputo, Mozambique, 29 Dec – Mozambican bank Moza Banco, a financial institution with capital from Macau, has received the right to use the “Made in Mozambique – Mozambican Pride” quality from the Ministry for Industry, making it the second national bank to receive the distinction, the bank said in a press statement.

The Minister for Trade and Industry, Antonio Fernando said that the mark “has managed to give value to the products and services of Mozambican companies,” contributing to their preference by private and public consumers, as well as making the companies responsible for sticking to strict criteria to guarantee the quality of their products.

In his turn, the Chairman of Moza Banco, Prakash Ratilal, said that the mark granted to the bank, “represents a great challenge as it will be necessary to add further excellence in providing banking services, as well as “o the products offered to the market.”

The bank said in its statement that over the next year it planned to expand its activities to Nampula and Nacala, whose branches will be opened simultaneously, as well as opening another branch in downtown Maputo.

The bank’s main shareholders are Moçambique Capitais (51 percent), a holding led by Prakash Ratilal, the chairman of Moza Banco, and Geocapital, a company owned by Macau impresario Stanley Ho in partnership with Jorge Ferro Ribeiro, with 49 percent. (macauhub)