Africa Banking Economy FA Finance Industry and Commerce Mozambique Press Conference

Mozambique’s BNI bank shares results of latest Credit Lines to support SMEs

The CEO of Mozambique’s BNI bank, Dr. Tomás Matola, spoke in a press conference yesterday, sharing data about the bank’s most recent credit lines, aimed at assisting the country’s SMEs to mitigate the effects of the COVID-19 pandemic.

BNI total funds from the two credit lines – “GovCOVID-19” and “BNI-COVID-19” – amounted to roughly £16M (about US$21,5M), which Dr. Matola explained were greatly exceeded (in 600%, in fact) by the financing demand shown by Mozambican companies looking to weather the current hardships brought about by the pandemic.

In total, 1058 credit applications were received, 585 (55%) from Mozambique’s south region, 293 (28%) from the central region and 180 (17%) from the north region.

Also read: Mozambique Tourism meets BNI bank and Government to discuss solutions

BNI’s CEO, Dr. Tomás Matola at the Press Conference

Dr. Matola stated that out of all the applications received, a total of 21% have been approved for financing, 48% from the south region, 32% for the central region and 20% from the north region.

Below you will find a detailed breakdown of each of the most represented sectors which were benefitted through BNI’s credit lines, in relation to their total share and also their share in their respective regions:

SECTOR % TOTAL SOUTH CENTRE NORTH
Commerce 29% 17% 37% 55%
Poultry / Livestock 16% 25% 3% 16%
Tourism 9% 13% 6% 4%
Food processing Industry 8% 2% 16% 11%
Agriculture 6% 4% 11% 5%
Education 6% 9% 1% 5%

 

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: