THE BEST, NOT THE BIGGEST
TBY talks to Rui Barros, CEO and Executive Board Member of Barclays Mozambique, on innovation and the company's unique offers for customers in Mozambique.

BIOGRAPHY
Rui Barros, currently the CEO and Executive Board Member of Barclays Mozambique, has held executive positions as Head of Risk at Standard Bank in Mozambique and also at Atlântico Europa, the Lisbon-based operation of the Angolan banking group. Barros also served as Director of Structured Finance for Lehman Brothers and as credit analyst at Fitch Ratings. He worked in capital markets and lectured in financial markets at several Portuguese universities. Barros graduated with a Degree in Economics from UTAS in Portugal, and holds a Master’s in Finance from the Catholic University of Portugal. He also studied and conducted research at Arizona State University, and more recently completed the Advanced Management Program at INSEAD in Singapore.What were the highlights for Barclays in 2015?
We had two main goals for 2015. One of these was to build and expand our brand. We reshaped our strategy at the beginning of 2014, and one of the ideas that emerged from that was to position our brand in a different and unique way in this market. Last year was really the first complete year of this new strategy. Our other goal was more related to redesigning our financial operations, given that in recent years our operation was not as profitable as before; therefore, it became critical for us to create a more sustainable business model. We have succeeded in both of these goals. According to the midterm results, and our end of year projections, we have returned to fourth position in the sector, when measured by total revenue, which is our benchmark. Our revenue line is growing faster than the market average, and we are gaining business in sectors and places where we were not that competitive before. We have what we call a corporate-led strategy, and our franchise is in fact quite strong, and certainly ready to continue growing in the coming years.
What is the role of innovation at Barclays, and how do you assess the receptiveness of the Mozambican market to new technologies?
There is innovation that is visible to the customer but also innovation that we introduce to gain more efficiency and eventually to provide a more convenient service to our customers. Banks are increasingly exploring the potential of digital services. Mozambique is growing so fast that there is a lot of competition in chasing new business and retaining existing business. Throughout 2014, we introduced a number of digital platforms and some quite interesting innovations that we were still busy rolling out in 2015. The one that is unique is an ATM with deposit taking functionalities. No other bank in the country offers that. We have seen a lot of uptake from customers, though it did take a little while. In the fourth quarter, we also looked at rolling out more products and unique initiatives, such as the World Miles Platinum Credit Card, which Barclays has been introducing around the world. There are also some other sophisticated platforms that we are bringing to corporate customers, but they are not so evident in the marketplace. We have brought in BARX, which is a trading platform for foreign currency, wherein large corporates can trade different currencies online from their offices, linked to the Barclays systems. Other solutions are very much designed to meet the needs of large corporates where, for example, it integrates with SAP on clients' accounting systems, in which orders introduced in the banking system will be reflected in their own accounting systems. This is a major convenience for organizations that have millions of transactions and manage treasury functions centrally.
What are Barclays' goals for the coming year?
Our goal is clear—we want to be the best bank in Mozambique, not the largest. It is important to know how we measure ourselves, and not just focus on the market challenges and competition. We want to affirm our presence as a truly local, regional, and global bank, as we understand the country and believe we offer services at the same quality level, if not better, than all of our competitors in the market, especially in the corporate and investment sectors and toward our affluent customers. We have gained of a lot from the knowledge about specific sectors and markets from which we operate. We really want to make 2016 the year in which we consolidate this ambition for corporate and investment banking, for commercial clients, and for premier and prestige clients. We are on the right track and I have no doubt that we will be able to fulfill our vision.

TABLE OF CONTENTS
Review: Economy
Much to Gain
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Foil Plans
Mozambique is the second-largest producer of aluminum in Africa and the 14th in the world. Since 2000, it has been producing aluminum for export, and in 2015 Midal Cables opened a factory near Mozal; the country's largest aluminum smelter. This could be the start of a Mozambican aluminum value chain.
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Ben James, Managing Director, Baobab Resources
TBY talks to Ben James, Baobab's Managing Director, resident in Mozambique. A geologist by training, Ben has been directly involved with the development of the Company's Tete Project from a greenfields iron ore discovery to an asset on the verge of corner-stoning Mozambique's nascent steel industry.
read articleFocus: Aluminum
Aluminum Legacy
Mozambique is the second-largest producer of aluminum in Africa and the 14th in the world. Since 2000, it has been producing aluminum for export, and in 2015 Midal Cables opened a factory near Mozal; the country's largest aluminum smelter. This could be the start of a Mozambican aluminum value chain.
read articleInterview
Hon. Jorge Olívio Penicela Nhambiu, Minister, Science and Technology, Higher and Technical Vocational Education (MCTESTP)
TBY talks to Hon. Jorge Olívio Penicela Nhambiu, Minister of Science and Technology, Higher and Technical Vocational Education (MCTESTP), on bringing science and technology to rural areas and increasing research in the country.
read articleFocus: E-government + E-bau
Digital Decisions
Between 2015 and 2016, Mozambique fell five positions in the World Bank's Ease of Doing Business Index. The government is investing in the GovNET and e-BAU platforms to facilitate procedures and cut the costs of acquiring business licenses and improving services provided to the public.
read articleReview: Health
Time for a check-up
Mozambique's healthcare budget rose to $561.5 million in 2015, an increase of 1.1% on expenditure in 2014, accounting for 10.2% of the state budget. Total healthcare expenditure in 2014 was $477.5 million. The Ministry for Health oversees the sector and is responsible for setting the budget each year.
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Dr. João M. Carvalho Fumane, Director General , Hospital Central de Maputo (HCM)
TBY talks to Dr. João M. Carvalho Fumane, Director General of Hospital Central de Maputo (HCM), about the range of services on offer and what is being done to further excellence in the health sector
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Hon. Jorge Ferrão, Minister, Education and Human Development
<span style="line-height: 1.6em; background-color: initial;">TBY talks to Hon. Jorge Ferrão, Minister of Education and Human Development, on the goals of the ministry, the role of local languages, and tackling teacher absenteeism.</span>
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Prof. Doctor João Leopoldo da Costa, Rector, Instituto Superior de Ciências e Tecnologia de Moçambique (ISCTEM)
TBY talks to Prof. Doctor João Leopoldo da Costa, Rector of Instituto Superior de Ciências e Tecnologia de Moçambique (ISCTEM), on the perils of the internet on education and the quality of its high school.
read articleReview: Tourism
Mozambeach
With white-sand beaches, scuba diving, and game reserves among its wide range of accommodation, Mozambique is a goldmine for tourism. However, to attract the number of tourists the country is aiming for, and entitled to, it will have to compete with its considerably more popular neighbors.
read articleReview: Legal
Smart Choices
Foreign investments are sources of capital, foreign exchange, and technical know-how for developing countries such as Mozambique. Over the past three decades, Mozambique has been successfully striving to ensure a favorable legal framework for foreign private investment.
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