United Bank for Africa- UBA
12:03 CAT | 13 July 2016
Mozambique is an independent republic which lies on the south-east coast of Africa and forms part of the Southern African region. The capital city is Maputo. Other major cities are Beira, Nampula and Pemba while the major seaports are Nacala, Beira and Maputo ports.
Mozambique is one of Africa’s success stories and is making economic progress, although the country is still dependent on foreign assistance. The economy was reformed by the elimination of subsidies and quantitative restrictions on imports, the reduction and simplification of import tariffs and the liberalization of crop marketing. A major privatization program involving the entire banking sector and state manufacturing companies is another active step in economic reform.
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