Local Content: Proposed law goes to the Council of Ministers
The election of a creditors’ representative on 11 January next week will finalise the composition of the defunct Nosso Banco’s liquidation committee.
The person chosen will join the chairman of the bank liquidation committee, João Machado – appointed by the Bank of Mozambique to lead the process – and the shareholders’ representative elected on December 22 last year.
The list of 60 creditors of O Nosso Banco, among them institutions and public and private companies, has already been disclosed. Creditors are all those who have money to receive from the bank, mainly from deposits and loans.
Among the creditors are the National Social Security Institute (INSS), João Loureiro – the Chairman of the Board of O Nosso Banco at the time it was closed, Electricidade de Moçambique (through its Pension Fund), the Ministry of Foreign Affairs of Mozambique, the Mozambican Insurance Company (EMOSE), Maputo Municipal Transport Company (EMTPM), Pedagogical University (UP), Petróleos de Moçambique (PETROMOC), the Maputo Shopping Center company and several other companies connected to it – the most numerous on the list.
The Liquidation Committee has one year from 7 December 2016 to sell the bank’s assets and reimburse depositors and other creditors the money owed to them. By the first week of December 2017, the “case of the extinct O Nosso Banco” must be closed.Source: O País