Moza Banco acquires the entire capital of Banco Terra Moçambique

17 December 2018

Moza Banco has acquired the entire capital of Banco Terra Moçambique, “a purchase that will consolidate the financial and equity structure of the banking institution,” according to the Chairman of the Board of Directors, João Figueiredo.

The statement issued by the bank said that the Bank of Mozambique has approved the capital increase operations of Moza Banco and the acquisition of Banco Terra Moçambique, as announced to the market.

Moza Banco also increased its share capital which was fully subscribed by the company Arise, which will now hold a 29.5% interest in the shareholder structure of the bank.

“Arise is a company founded by Rabobank (Dutch bank), Norfund (one of the largest investment funds in the world and of Norwegian origin) and FMO (Dutch investment fund),” the statement said.

Arise currently manages more than US$660 million in assets and operates in more than 10 countries, and this deal allows it to expand its investments in Mozambique. (macauhub)