Rogério Zandamela, a former senior IMF official and now the governor of Mozambique’s central bank, talks to Peter Wise about repairing the damage inflicted by the country's debt crisis, upgrading its banking regulation and the prospects for an economy about to tap huge natural gas resources.
The 'tuna bond' scandal, donor suspensions, a sharp rise in inflation rates and slower economic growth have made for a difficult operating environment for Mozambique's banks in the past couple of years. However, Peter Wise discovers a sector where optimism very much prevails.
Healthy growth figures and low NPLs are giving Mozambique's banks optimism that they can weather the country's cooling economic climate. It is a view shared by foreign investors who have an eye on its strong long-term prospects, as James King reports.
A series of worrying headlines regarding Mozambique's bond activity and overall economic performance do not portray a country ripe for investment, but factors such as a huge natural gas discovery mean the mood within Maputo and beyond is one of optimism. James King reports.
Mozambique's economy has performed strongly in recent years, and the country's central bank governor, Ernesto Gove, describes how he intends to build on this growth with, among other things, more liberal investment policies, while also ensuring that opportunities are open to local businesses and profits benefit the entire population.
Mozambique's economy has performed strongly in recent years, and the country's central bank governor, Ernesto Gove, describes how he intends to build on this growth with, among other things, more liberal investment policies, while also ensuring that opportunities are open to local businesses and profits benefit the entire population.
Standard Chartered already has one of the largest African businesses among banks from outside the continent, but it still wants to increase its operations there substantially in the next few years. Diana Layfield, its chief executive for Africa, tells Paul Wallace how.