Portuguese businessman launches new bank in Mozambique with Visabeira and Mozambican partners

27 August 2010

Lisbon, Portugal, 26 Aug—Portuguese businessman Américo Amorim, in partnership with Portuguese construction company Visabeira and Mozambican partners, is set to launch a new retail bank in Mozambique, Portuguese news agency Lusa reported citing people close to the process.

Led by the former chief executive of Millenium Bim, João Figueiredo, the new bank’s main promoter and biggest shareholder is Américo Amorim, who is already involved in the financial sector in Portugal and in Angola, as one of the main shareholders of Banco BIC, and in Spain, where he is a shareholder of Banco Popular.

In this project, the Portuguese businessman has new partners, with Visabeira as the second biggest shareholder. The company has been in the Mozambican market for several years, with projects in the telecommunications infrastructure and tourism sectors.

The main Mozambican partner is Salimo Abdula, businessman and chairman of the Confederation of Economic Associations of Mozambique (Cta).

The new financial institution, which will have its headquarters in Maputo, will be the third Portuguese-owned bank in Mozambique, where Millennium Bim is the market leader and BCI, of Portuguese state financial group Caixa Geral de Depósitos and Banco BPI, also has a relevant position. (macauhub)