Former Mozambican energy minister becomes chairman of subsidiary of BIG bank

16 March 2016

Salvador Namburete, Mozambique’s Energy Minister for 10 years, will be the first chairman of the Mozambican subsidiary of Portuguese bank Banco de Investimentos Global (BIG), according to online newspaper Zitamar News.

Before becoming the Energy Minister, Namburete had been the deputy Minister for Trade and Industry for five years during the presidency of Joaquim Chissano.

BIG was founded in 1999 and its main shareholders are António da Silva Rodrigues, of the Simoldes group, with 12.39 percent, followed by stakeholding company Adger, with 10.96 percent, Carlos Rodrigues, the chairman and founder of the bank, with 9.94 percent and World Wide Capital (WWC), owned by Angolan general Hélder Vieira Dias “Kopelipa”, with 9.93 percent.

The bank, which is venturing beyond Portugal for the first time, received authorisation from the Bank of Mozambique in 2014 and was licensed to operate as an agent for the Mozambique Stock Exchange in March 2016, (macauhub/MZ/PT)