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The Monetary Authority of Macau (AMCM) and the Macau National Overseas Bank have proposed the use of the Chinese Renminbi (RMB) as an alternative for commercial transactions with Mozambique.
“We came here to promote the use of the RMB (official currency name of China) in Mozambique, to use the RMB as the preferred currency,” said Sam Tou, executive director of Macau National Overseas Bank (BNU).
Tou was speaking in Maputo on the sidelines of a meeting with the Mozambican Confederation of Economic Associations (CTA).
The use of the RMB will make payments efficient between Macau and Mozambique, he said.
“The RMB is booming and progressively stronger,” said Tou.
AMCM has learnt that Mozambique has government projects, but “hopes that the private sector will be able to use the RMB as the preferred currency.”
The Commercial Investment Bank (BCI) of Mozambique and the BNU of Macau count on Caixa Geral de Depósitos in its shareholder structure.
In turn, José Caldeira, of the CTA board, expects benefits in using the RMB in financial transactions with China.
“There is a lot of investment appetite in agribusiness, mining and gas,” he said.Source: Lusa