Bison Capital of Hong Kong takes stake in Banco Mais of Mozambique

30 August 2018

Bison Capital Financial Holdings of Hong Kong has acquired 48% of the capital of Mozambican bank Banco Mais after having made a €12 million injection into the bank, according to CLBrief (China Lusophone Brief).

 

Bison Capital, which acquired Banif-Banco de Investimento in Portugal in July, subscribe a 23% of Geocapital’s  capital share of Banco Mais.

 

According to CLBrief (clbrief.com) the management of Banco Mais will be carried out by Bison Capital and Geocapital while Luis Almeida of the Portuguese company that has run the bank since 2014 will remain as chairman.

 

Pedro Cardoso, who headed Banco Nacional Ultramarino de Macau (BNU) until the middle of this year will represent Bison Capital in the management of Banco Mais.

 

The Mozambican bank, through its network of branches in the country, is focused on the business and financial sector and offers solutions for private individuals and companies.

 

In June of this year, Banco Mais posted losses of US$590,000, an improvement compared to losses of US$1.5 million in the same period of 2017.

 

Geocapital invested in Banco Mais, formerly known as Banco Tchuma, in 2014 through a capital increase that was also subscribed by Tunisian investment fund Africinvest at the time.

 

Along with Bison Capital and Geocapital, Banco Mais’s shareholders are Africinvest, Gildo dos Santos Lucas and the Foundation for Community Development. (macauhub)

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