Société Générale Moçambique inaugurates a Corporate Branch in Beira

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Société Générale Moçambique inaugurates a Corporate Branch in Beira

5:09 CAT | 27 Nov 2020

Photo courtesy: Societe Generale Moçambique

Bank Société Générale Moçambique inaugurated this Wednesday 25th November, a corporate branch in the city of Beira, Sofala province.

This is the Bank’s 6th branch in Mozambique, since its establishment in the national territory in 2015 and the first in the city of Beira, making the institution present in the north, center and south of the country.

In a restricted ceremony, in compliance with the prevention protocol against Covid-19, the Executive Director of Bank Société Générale Moçambique, Sterghios Dassarecos, said that the Bank’s presence in Beira aims to support industrial and commercial development, ensure assistance to small and medium-sized enterprises (SMEs) and leverage the rapid growth of the city.

“Beira is the second largest city in the country, with significant industrial and economic potential, derived from trade and port activities. The city is the center of the transport and logistics industry, which are traditionally key sectors supported by the Société Générale Group. Our goal is to support these sectors based on our local and international experience, providing tailor-made solutions from a comprehensive perspective, taking into account the needs of our customers and their ecosystems, from their suppliers to their employees,” he said.

Sterghios Dassarecos also said that Société Générale Moçambique has an interest in contributing to the relaunch of the city’s economy and stimulate the development of local content in all major investments.

“We also want to participate in the reconstruction of Beira, following the cyclone IDAI in 2019. Our goal is to support companies that need to return and continue their business,” he said.

Societebeira — *Photo courtesy: Societe Generale Moçambique*

The representative of the Bank of Mozambique in Sofala, Ruth Pátria, stated that the opening of the Bank Société Générale Moçambique’s branch in that province responds to the government’s calls for a further territorial expansion of banking and financial services by the country and ensures a more comprehensive financial inclusion. “We are convinced of the impact that the opening of this agency will bring to the city of Beira in particular, by increasing the range of opportunities and alternatives of financial services, thus allowing the execution of transactions with greater speed, comfort and security”, she said.

For his part, the French Ambassador of Mozambique, David Izzo, considers that the opening of the Société Générale branch in the city of Beira represents a testimony of the confidence of French companies and its subsidiaries, in the private sector of the province of Sofala.

“It is an impressive example of the vitality of this city that, just a few months before my arrival in Mozambique, had just been hit by IDAI cyclone. We can confirm its resilience and that of its inhabitants and the presence of the French private sector here testifies to our optimism in the future development not only of the city, but of the province. We have several large companies here and working, such as Bolloré, Companhia de Sena, several NGO’s and even companies in the sugar sector”, he stressed.

Bank Société Générale Moçambique Bank is a subsidiary of the Société Générale Group, one of the main leaders of the European financial sector, based in 62 countries and has 138,000 employees and 29 million customers worldwide.

Mozambique is the Bank’s first subsidiary in Southern Africa, which demonstrates the Group’s ambition to grow in Africa by investing in a long-term perspective.

Source: Société Générale Moçambique / Press Release