trending Market Intelligence /marketintelligence/en/news-insights/trending/W4xtp10Wa-kZFQ-lsCNmDw2 content esgSubNav
In This List

Report: Pension fund to acquire majority of Moza Banco through $138M injection

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks


Report: Pension fund to acquire majority of Moza Banco through $138M injection

A fund that manages Mozambican central bank employee pensions will pump $138 million into local lender Moza Banco SA in return for an 80% stake, Reuters reported May 31, citing the central bank.

Moza Banco was placed into central bank administration in September 2016 amid liquidity troubles. The Kunanha fund will become majority shareholder alongside Portugal-based Novo Banco SA and a grouping of about 400 Mozambicans, which control about 10% apiece of the lender, Reuters noted.

A report earlier in May had suggested that Barclays Africa Group Ltd. was the leader among three bidders for Moza Banco.