Moza Banco in Mozambique increases capital to US$40 million

Mozambican bank Moza Banco at the end of May carried out a capital increase of 283.25 million meticals, or approximately US$10 million, according to a statement from the bank issued in Maputo Tuesday.

The bank now has capital of approximately US$40 million

According to the statement the capital increase was intended to respond to the growing investments that Moza Banco is making in its expansion project, in innovative financial solutions, and staff training.

The chairman of the board of Moza Banco, Prakash Ratilal said that another capital increase, of 141.65 million meticals, or US$5 million, was scheduled for September.

The shareholders of Moza Banco, which was founded in June 2008, are Moçambique Capitais SA (50.1 percent), BES África (21.1 percent) and Geocapital, a Macau investment company (24.5 percent).

The bank is a Mozambican financial institution and provides the market with a vast range of products and services. It offers corporate banking, private banking, and other services. (macauhub)

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