Mozambique demands global financial reform
Bank of Mozambique opens branch in Chimoio, Manica province
3:57 CAT | 12 Oct 2020
Photo: O País
A new branch of the Bank of Mozambique in the city of Chimoio, Manica province, was inaugurated by President Filipe Nyusi on Friday.
The new branch will save commercial banks and residents a 200 kilometre trip to Beira in Sofala province whenever they need to withdraw or deposit large sums of money.
The new, modern-style Bank of Mozambique building in Chimoio covers an area of 2,500 square meters, and is resilient to climate change.
Filipe Nyusi said that the opening of the branch marks the end of commercial banks’ difficulties in carrying out banking operations. “The new Chimoio branch gives banks in Manica,access to central bank services such as for cash deposits and withdrawals, reducing associated risks and costs,” the head of state said.
Treasury operations would be easier and less costly, the president said, and there would also be greater speed in the provision of newly minted banknotes and national currency.
The head of state also highlighted the new branch’s location in the ‘Beira Corridor’, contributing to the dynamisation of the region’s economic potential.
Despite the effects of the novel coronavirus on economic activities, Nyusi said, measures taken by the Bank of Mozambique had helped stiffen resistance to the worldwide crisis, and boosted the country’s economy.
Nyusi also promised that the government would continue to press forward with reforms to modernise the economy, and especially with incentives for financial institutions to expand across the entire national territory.
Speaking in turn, Governor of the Bank of Mozambique Rogério Zandamela thanked those who had made possible the opening of the Manica branch, which now meant the central bank had branches in all the provincial capitals.
Source: O País / Conselho dos Serviços Provinciais de Representação do Estado em Manica
Show comments
Also read
Leave a Reply
Be the First to Comment!
You must be logged in to post a comment.
You must be logged in to post a comment.