Geocapital sells its stake in Mozambique’s Moza Banco

17 June 2013

Moçambique Capitais and Portuguese group Banco Espírito Santo are now the only shareholders of Mozambican bank Moza Banco following the exit of Geocapital – Gestão de Participações, an investment company owned by Macau gaming magnate Stanley Ho, the bank said.

Following a previous rearrangement of stakes, the Portuguese group had a 44 percent in the Mozambican bank after buying an 18.9 percent stake from Geocapital, which kept a 5.6 percent stake.

After this latest transaction, Geocapital sold its remaining stake in the bank and Moçambique Capitais now has 51 percent and Banco Espírito Santo, via BES Africa, has 49 percent.

According to a statement issued by the bank, the final agreement was only official when required authorisations were granted last Thursday when Moza Banco opened two new branches in the cities of Maxixe and Tete.

Moza Banco has paid-up capital of US$42.5 million, and Moçambique Capitais is an investment company made up of over 300 small Mozambican shareholders. (macauhub)