Moza Banco scoops “Deal of the Year 2019 for Restructuring in Africa” Award
Moza Banco scooped the prestigious “Deal of the Year 2019 for Restructuring in Africa” Award. This award aims to recognise the best financial restructuring operation of the year across Africa and is organised by The Banker Magazine, a prestigious international financial publication, which recognises industry leaders in banking. The award is an acknowledgment of the success of the structured capital increase operation that culminated in Arise acquiring a minority stake in Moza Banco and the subsequent merger with BTM to create a new entity that will be favourably positioned to serve Mozambicans and promote financial inclusion.
“In the initial award assessment phase our panel of judges, which was comprised of experts in economics, banking and finance analysed the complex and successful program of financial reorganisation and restructuring implemented by Moza Banco, which, after intervention by the Central Bank, has seen a remarkable recovery, coming out of a situation of an imminent collapse, to re-establish itself as one of the five largest banks in the country, operating at a much more stable level, “said John Everington , Editor for Africa and Middle East of The Banker Magazine.
The award was bestowed on Moza Banco at the inauguration ceremony of their new head office in Maputo in June. Speaking at the event Chairman of the Board of Directors of Moza Banco, João Figueiredo, stated that the award was a result of the effort of all its bank employees. “This award represents the success of the ongoing business strategy supported by the relevant shareholders and aims to reinstate Moza Banco as a benchmark national bank with an ambition for growth that meets the challenges of the present and the future. We dedicate this award to our customers and society in general, who have placed their trust in our institution and who have contributed to the consolidation, growth and affirmation of the bank”, he added.
The President of the Republic, Filipe Nyusi, who was in attendance at the opening ceremony acknowledged Moza Banco’s success through resilience and congratulated the bank’s management and staff for their vision and work “The story shows that with determination, the bank was able to overcome past incidents and hurdles … Today Moza Banco is here firm and in full growth. In this context, I would like to congratulate the Board of Moza Banco, who realised that instead of folding your arms, you should roll up your sleeves and work to become a strong and leading bank in the national and international financial market. These results can only be achieved with a dynamic team, lots of work and a strategic business vision”, he concluded.
For more information visit www.mozabanco.co.mz