Governor of the Bank of Mozambique invites Italian companies to invest in the country

21 May 2014

The governor of the Bank of Mozambique, Ernesto Gove, invited financial institutions from Italy to set up subsidiaries in the country, as he spoke to members of a delegation from Italy that is currently visiting Mozambique.

The delegation is headed up by the Italian deputy Economic Development Minister, Carlo Calenda and as well as representatives of the Italian Banking Association, included senior officials from four large Italian banks, namely Unicredit, Banca Intesa, UBI and Banca Popolare di Vicenza.

Cited by daily newspaper Notícias, Gove said that Mozambique planned for its relationship with Italy to move beyond statements of intentions and opening up credit lines for projects in Mozambique and also consider the possibility of opening up subsidiaries of banks with Italian and Mozambican shareholders.

Calenda said that the Italian mission “is not born of nothing” and was the result of the idea that Mozambique is a priority country for investments and cooperation over the next few years.

Deputy Minister Calenda, accompanied by businesspeople and representative of economic associations and confederations from Italy, has so far has a meeting with Mozambique’s Minister for Industry and Trade, Armando Inroga. (macauhub/MZ)