Mozambique: Trade with China boosts by almost a quarter
Pedro Cardoso, which headed local bank Banco Nacional Ultramarino (BNU) for seven years, will hold a key management role at Mozambican bank, Banco Mais, portal China-Lusophone Brief reported. Photo: MNA
The former CEO of local bank Banco Nacional Ultramarino, Pedro Cardoso, is to hold a key management position at Mozambican bank Banco Mais through Hong Kong investment company Bison Capital Financial Holdings
According to the report, Mr. Cardoso joined Hong Kong investment company Bison Capital Financial Holdings in July 2018, which has acquired 48 per cent of the capital of the Mozambique bank through a 12 million euros (US$13.99 million/MOP113,14 million) injection and a partnership with the financial institution largest shareholder, Macau-based company Geocapital Holdings Limited S.A.
Shareholders in Geocapital include local business magnate Stanley Ho Hung-sun, founder of SJM Holdings, and the current CEO of the gaming operator, Ambrose So.
Cardoso is to be a member of the board at Bison’s holding company and will concurrently hold the position of President at Portuguese investment bank Banif Banco de Investimento, S.A. (Banif Investment Bank).
Banif has recently been purchased by Bison from Portuguese company Oitante, S.A., and is currently undergoing restructuring.
Cardoso became BNU’s CEO in 2011 and after announcing he would leave the presidency of the bank – part of Portuguese banking group Caixa Geral de Depósitos group (CGD)- in 2017, was succeeded in the position by Carlos Cid Álvares.Source: Macau News Agency