Chinese-owned company Sogecoa builds Procredit bank building in Mozambique

30 May 2011

Maputo, Mozambique, 30 May – Sogecoa Lda (Moçambique), a company owned by Chinese businessmen, is building the Banco Procredit building in downtown Maputo, Macauhub has learned.

The ProCredit bank, which was established only recently and is gaining market share in Mozambique, plans, with this investment, to have its own purpose-built facilities.

Sogecoa (Moçambique) was involved in the refurbishment and modernisation of Hotel Polana, the most luxurious hotel in the Mozambican capital.

The company also built a 10-storey building near Mozambique’s Investment Promotion Agency (CPI) that is home to China’s Investment Promotion Agency.

Chinese companies have become increasingly involved in Mozambique’s construction sector.

Chinese company Construção CCM is erecting a six-storey building (already in its final stages) in the Mozambican capital, which will be used, amongst other things, as office space.

As well as Sogecoa (Moçambique) and Construção CCM Chinese companies operating in Mozambique’s construction sector include the China Henan International Cooperation Group (CHICO) and the Anhui Foreign Economic Construction Corporation (AFECC). (macauhub)