Africa Monitor

Africa Monitor Intelligence

Mozambique: BdM pressure Hastens changes in Millennium BIM

The changes at Millennium BIM (Millennium BCP Group, Portugal) at the end of last week caused disruption in the banking system. BIM is one of the three systemic banks in the country (about 1/3 of bank assets). The resignation of CEO JOÃO MARTINS (JM) and Chairman RUI FONSECA (RF, close to PR FILIPE NYUSI of whom was colleague in Caminhos de Ferro de Moçambique), forced the bank on 09.MAY to immediately appoint the interim leader MOISÉS JORGE (MJ), as the future Chairman and to begin the choice of a new CEO. READ MORE