africa Banking Economy Finance Mozambique

Mozambique’s Banco MAIS bank certified to operate on the Stock Exchange

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Banco MAIS has obtained the certification of special operator of the Mozambique Stock Exchange, “aiming to find financial solutions that respond to the needs of its customers and the general public,” the bank said in a statement released in Maputo.

The certification authorises that the bank to intermediate capital market transactions as well as set up financing through public underwriting of subordinated debt, such as commercial paper and corporate bonds.

The bank will also be able to broker the negotiation of public debt securities, such as Bills (short-term) and Treasury Bonds (long-term).

Banco MAIS is a commercial bank dedicated to supporting the development of the Mozambican business community, which provides services with a global offering of financial solutions to individuals and companies, through its network of Business Units in Maputo, Boane, Xai-Xai, Chimoio and Tete.

The bank’s qualified shareholders are Geocapital – Gestão de Participações, with 48.14%, AfricInvest Financial Limited, with 43.40%, Gildo dos Santos Lucas with 4.20% and the Community Development Foundation, with 2.92%.

Source: macauhub

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