Moza Banco wins Best Regional

 

Mozambican Moza Banco won the award for Best Regional Bank in Southern Africa and Standard Bank won in the category of the best deal on infrastructure, with the financing of $85 million for the port of Maputo. During the Awards organised by the African Banker magazine, awarded annually as part of the Annual Meetings of the African Development Bank (AfDB), which are taking place this week in virtual format due to the pandemic, the jury chose Moza Banco as the best bank in Southern Africa.

Moza Banco has the third largest branch network in Mozambique and is the fifth largest Mozambican bank in terms of total assets, according to the most recent ‘ranking’ of the sector, published at the end of last year by the Mozambican Association of Banks (AMB) and KPMG, which shows that its majority shareholder is Kuhanha – Sociedade Gestora de Fundos de Pensões, controlled by Banco de Moçambique. Among the various categories they highlighted are also the Bank of Trade and Development as Bank of the Year and Herbert Wigwe, of Access Bank of Nigeria, as Banker of the Year, having awarded the Infrastructure Business of the Year award to the financing of the dredging of the port of Maputo by Standard Bank. This $85 million (€71.8 million) project covered an area of 76 kilometres and the removal of 14 million cubic metres of sand and sea rocks, according to Standard Bank’s website, which notes that with this operation to deepen the access channel, the port now can receive larger vessels.