Given that Mozambique is gradually transforming itself into a magnet for investments on a global scale, banks are committed to continue working toward providing better service and boosting their outreach.

Salim Cripton Valá

Chairman, Mozambique Stock Exchange (BVM)

BVM began its operations in 1999. It is different from most stock exchanges in that it is publicly owned. The state promoted the initiative to create BVM motivated by three objectives: to create an alternative financing mechanism for companies and for the state; to promote a culture of savings and investment; and to boost economic activity and production. In the last three years, we grew from four listed companies to 11 currently. This was the result of an active effort to visit companies, organize conferences, and educate the public about the advantages offered by the stock exchange. BVM's market capitalization currently represents around 10% of GDP, and we expect this indicator to be 25% by 2025. We offer services to three distinct segments. First, we want to be the preferred channel for investments for large companies. Second, we want to be a platform for SMEs, which represent more than 98% of our economy. Finally, we want to provide a solution for government bonds and state-owned companies facing financial difficulties.

Joel Rodrigues

CEO, Banco BiG Moçambique

BiG Portugal is a privately held, specialized financial institution, operating in three major business segments: specialized retail, institutional banking, and treasury and capital markets. We started looking at Mozambique in 2013, at a time when the macro conditions looked extremely positive. However, by the time we set up the bank, the financial bubble had already started bursting, so we needed to be focused on implementing our strategy and business model. We grew despite market challenges because of the innovative alternatives that we offered to our clients and our unique and specialized positioning in granting access to capital market products and providing dedicated asset management services to the main institutional investors in the country. We have built a dedicated team of young individuals who are trained and focused on providing capital markets and financial advisory services to clients, which distinguishes us from other banks in the market. BiG Moçambique provides specialized investment banking services, including financial advisory services and investment and savings solutions for institutional and individual clients.

Tiago Ferraz Contente

CEO, First Capital Bank

First Capital Bank has a strong footprint in the region. Today, we are present in five plus one countries: Malawi, Zambia, Zimbabwe, Botswana, and Mozambique, and our holding is in Mauritius. We started operations in 2014, just before the shock that froze Mozambique's economy and postponed FIDs. From the start, we were forced to reduce costs and limit investments. However, by 2018 we started to see signs of improvement. In March 2019, our board increased our share capital, and in February 2020 we approved a new capital injection. In July 2019, we completed our rebranding, having all the group's operations working under the same brand. We also opened our first branch outside of Maputo, in Nampula, and in 2020 we plan to open an office in Beira. As a result of our strategy initiated in late 2018, our total assets grew 73%, deposits from clients increased by 50%, and our credit book doubled in 2019. Our total income in 2019 was 42% higher compared to 2018.

Prakash Ratilal

Chairman, Moçambique Capitais

Mozambicans have scarce capital to invest, as they represent the first generation of the private sector. For its part, Moçambique Capitais had to join more than 400 shareholders, mostly Mozambicans, to realize capital into a holding company. We also hold Moza Capital, SA, a non-financial business platform that invested into profitable partnerships; Moztel Ltd, an internet service provider that covers southern and soon central Mozambique; Ecolife, a waste management company with significant annual contracts with the Municipality of Maputo capital city; and MZCC Ltd, a consulting company. Moçambique Capitais is also the founder of Moza Banco, a greenfield, universal bank with sound and prime IT systems, working 24 hours all-year round, with high-quality dedicated workers. Moza Banco prides itself as the only truly national bank in Mozambique—out of 800 workers, Moza Banco employed seven foreigners, only in positions where their expertise was required. Moza Banco is fully committed to the overall development of the country. The bank's strength is fully linked to the economy as a whole.