Bank of Mozambique considers Nampula a preferred destination for banking sector

13 June 2012

The Bank of Mozambique (BM) considers Nampula province to be the second most preferred destination for investments in the banking sector in Mozambique after Maputo, according to a report in Mozambican newspaper Notícias.

According to information from the bank, over the last few years, the number of banking branches has increased from 22 to 47, which is more than 10 percent of the total number of branches in the whole of Mozambique.

According to António Pinto de Abreu, the deputy governor of the BM, this attraction to Nampula is the result of its dynamic economy.

Speaking at the opening of the first branch of Banco Único, in Nampula, Pinto de Abreu said that Nampula province’s economy was structured as a logistics platform after a number of mining projects were set up such as the Moma heavy sands project and the future Rovuma gas project.

“The projects in the rail-port and airport areas in Nacala, in the Special Economic Zone, are unequivocal examples of this specialisation of Nampula province,” said Abreu.

Five years ago Nampula had just 22 bank branches, which accounted for 8 percent of banks in Mozambique. (macauhub)