Moza Banco to open more branches in Mozambican cities

16 September 2011

Maputo, Mozambique, 16 Sept – Mozambican bank Moza Banco is due to open three branches in October in the city of Nampula followed, by the end of the year, by branches in the cities of Tete and Beira, the bank’s chief executive told Macauhub in Maputo.

Inaete Merali also said that the bank’s staff that will work at the branches were currently being trained.

The cities of Nampula and Tete, in the north and central-north of Mozambique, are the targets of significant investment, notably the coal areas in Tete and the Prosavana project being carried out in Nampula by Brazil and Japan, alongside the Mozambican authorities.

The chief executive of Moza Banco said that the bank was analysing the introduction of other business areas such as insurance and factoring, “areas that are part of the bank’s modernisation process, which includes offering new financial solutions.” (macauhub)