Thursday, 27 January 2011


The Portuguese Banco Espirito Santo group, through its holding company BES Africa, bought 25.1% of Moza Banco. 24.5% is held by Geocapital, the holding company of the Macau billionaire Stanley Ho, with Portuguese investor Jorge Ferro Ribeiro, and Macau businessman Ambrose So Shu Fai who is member of the Chinese Peopleís Political Consultative Conference, an advisory body to the Chinese government. The majority, 50.4%, is held by Mocambique Capitais, a private company open to any Mozambican businessman or other professional, which now has about 300 shareholders. Moza Banco was started in 2008 by former governor of the Bank of Mozambique, Prakash Ratilal. It currently it has just two branches and 63 workers, but Ratilal says the BES investment will allow it to expand to 30 branches and about 300 workers by 2013.

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