Shareholders of Moza Banco approved the change of trade name of the bank to simply Moza, and the announcement occurred during a reception attended by the Prime Minister of Mozambique.
Prime Minister Carlos Agostinho do Rosário, cited by daily newspaper Notícias, praised Moza Banco for facilitating the population’s access to banking services.
Moza Banco, which has been operating for around seven and a half years, is the fourth largest bank in the Mozambican market with about 56 branches.
The bank’s chief executive, Ibraimo Ibraimo also announced that alongside the name change, red would now be the main colour of Moza.
The chairman of Moza, Prakash Ratilal said the bank intended to continue to monitor the country’s economic growth, notably through introduction of products in line with the Mozambican reality, financial inclusion and use of new technologies.
Moza is 51-percent owned by Moçambique Capitais and the remaining 49 percent is held by Novo Banco, a Portuguese bank that inherited the healthy assets of bankrupt bank Banco Espírito Santo. (macauhub/MZ)