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Mauritius: The Mauritius Commercial Bank continues its expansion in Mozambique together with the shareholding intake of the General Society




The group Mauritius Commercial Bank (MCB) begins a new phase of development in Mozambique. The MCB has thus signed on March 19 a partnership agreement with the General Society for the entry of the latter to the MCB Mozambique capital by becoming the majority shareholder following a capital increase.
 
The share offering of the General Society will then be validated by the Central Bank of Mozambique. "With one of the strongest global growth the last decade, Mozambique has a high development potential, especially in terms of infrastructure resulting from the recent findings of gas fields," emphasizes the French banking group.
 
Since 2001, Mozambique has experienced strong growth of 5.8% for the lowest year to 11.9% for the highest. Since 2010the annual growth exceeds 7%. The Portuguese-speaking country is full including significant hydrocarbon reserves. Between 2010 and 2012, the US oil group Anadarko and Italy's Eni, performed, off the coast of Mozambique, the largest discoveries of gas in 10 years.
 
The Mozambican banking sector begins to attract international banks.



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