The overriding story of Mozambique’s Moza Banco has been one of overcoming and then triumphing over adversity. The bank started brightly, beginning operations in 2008, and by 2011 had been ranked by Banker magazine as the fifth fastest-growing bank in relation to assets in Africa. In 2015, it won the African Banker Award as the Most Innovative Bank in Southern Africa.
But the good times came to an abrupt halt and following a series of poor results, the Central Bank appointed a Provisional Board of Directors to set out a recovery programme.
Following a series of recapitalisations and the entry of major shareholders, the bank today has recovered to become one of the largest in the country. For the last two years it has won the African Banker Award for Best Regional Bank in Southern Africa.
CEO João Figueiredo discusses banking and the wider economic situation in Mozambique with African Banker editor Anver Versi.
