We’re celebrating 120 years in Mozambique with the opening of Standard Bank Mozambique’s new head office in Maputo.
The importance of this milestone is that Standard Bank Group has been in Mozambique through good and bad times. Through various political and economic transformations, we kept operating in the country and never left.
This shows the unwavering belief that Standard Bank Group has in Mozambique. During the last 120 years, the bank has positively contributed to the economic and social transformation of Mozambique. We’ve done this through financing multi-million-dollar projects, providing financial services to all Mozambicans and through various community initiatives that have had a positive and life changing impact on many Mozambicans.
For example, in the north, in the country’s second-largest city of Beira, Standard Bank Mozambique has rehabilitated the physical education centre of the Agostinho Neto primary school, including a new cover and sports equipment for the school’s 1 400 students. It’s part of the bank’s strategy to support sport, education and other sectors of society.
Natural gas projects, coal exporting and the development of associated infrastructure will soon help make Mozambique one of the fastest growing economies in southern Africa.
The country’s gross domestic product (GDP) can be expected to grow 8% a year, which is higher than the 7.3% average of the past 10 years.
At Standard Bank Group we remain is upbeat when it comes to Mozambique, which has one of the best performing economies in southern Africa.