Africa Monitor

Africa Monitor Intelligence

Mozambique: Unprecedented Court Ruling on Moza Banco Shakes Up Banking System

 
The central bank (BdM) and Moçambique Capitais are currently in negotiations in order to find a solution, possibly through an out-of-court settlement, which could involve MC re-entering Moza's capital.
The antagonism between the CEO of MC PRAKASH RATILAL (PR) and the governor of BdM ROGÉRIO ZANDAMELA (RZ), which worsened in 2016, could complicate the situation and in financial circles it is reported that RZ may not be able to resist this sentence and the pressure he is currently under from the country's main businessmen, through the business confederation CTA (AM Flash 25-06), for not making foreign currency available and not lowering the mandatory reserve ratio on banks. READ MORE