Banking & Insurance

 


Central Bank:
Banco de Moçambique
Currency: Metical (MT)
A total of 9 commercial banks operate in Mozambique, namely:
• 1 investment bank,
• 3 microfinance banks,
• 5 credit cooperatives,
• 3 financial leasing institutions,
• 1 group purchase administration society,
• 1 investment societies,
• 1 representation of a credit institution with its headquarters abroad,
• 20 exchange bureaus, and
• 20 entities licensed to exercise credit functions.

Commercial Banks:
Various commercial banks with participation of both local and foreign capitals operate in Mozambique with their headquarters located in Maputo and branches in the rest of the country, namely:
• Millennium BIM, SARL,
• Barclays Bank, SARL,
• Standard Bank (SB), SARL,
• Banco Comercial e de Investimentos (BCI Fomento), SARL,
• Banco Internacional de Comércio (ICB), SARL,
• Mauritius Commercial Bank (Moçambique), SA
• African Banking Corporation (Moçambique) (ABC), SARL,
• First National Bank, and
• Banco Mercantil e de Investimento (BMI), SARL.
Banks open from Monday to Friday from 08:00 to 15:00 hours. In some hotels and shopping centers banks are open from 8:00 to17:00 hours, from Monday to Friday. Some banks also open on Saturdays from 9:00 to 13:00 hours.

Insurance Companies:  
The Insurance market is covered by five companies, namely:
• Emose - Empresa Moçambicana de Seguros, SARL,
• GA - Global Alliance (Moçambique), SARL,
• Hollard Moçambique Companhia de Seguros, SARL,
• MCS -Moçambique Companhia de Seguros, SARL, and
• Millennium Seguradora Internacional de Moçambique, SARL.

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