Moza Banco issues USD 7,500,000 in bonds to support new business in Mozambique.
Moza Banco issued a bond loan, by private subscription in the amount of USD 7,500,000 (seven million, five hundred thousand US dollars), which was fully subscribed for by Arise B.V. (Arise).
According to Arise CEO, Mr Deepak Malik this investment by Arise further solidifies its commitment and continued support to Moza Banco on its path to sustainable growth and profitability. “The bonds issued by the bank will contribute to the advancement and development of Mozambican companies, which is directly aligned to Arise’s goal of partnering with local financial services providers to promote financial inclusion in Africa”, he added.
“Despite the challenging global economic conditions Moza Banco has performed well, weathering both natural disasters and the COVID-19 pandemic. Our continued investment in Moza Banco will allow the bank to further strengthen its position in the local banking sector, as the Mozambican economy looks forward to a strong period of growth driven by large foreign investments in Liquified Natural Gas projects”, said Mr Malik.
With this issue, Moza Banco becomes the first bank in the national financial market to issue bonds in foreign currency, under the regulatory context that guides the issue of securities in the country. This issue, organised and arranged by Moza Banco’s Investment Banking Division, is based on the bank’s strategic plan, and on the restructuring and stabilisation of the balance sheet, providing it with robust medium and long-term liabilities.
Moza Banco continues to drive its business forward based on the promotion and provision of an integrated and segmented value offer of financial products and services, with the main objective of fostering close relationships adjusted to the needs of its customers.