BCI: Paulo Sousa Discusses the Banking Sector in Mozambique

Paulo Sousa, CEO of BCI (Banco Comercial e de Investimentos), gives his assessment of the banking sector in Mozambique. There are 18 banks in the country, but two of them control about 60% of the market, namely BCI and Millennium bim.

“Mozambique boasts a great financial and banking system. Here, banks are compliant with international standards, even in areas that require a more “technological” approach, such as payments, cards, internet banking and mobile banking. BCI has a sound banking infrastructure and complies with international standards, such as Basel II for instance. Besides, it is important to mention that the banking sector in Mozambique has been growing at a faster rate than the GDP, so it has been one of the most important drivers of the growth in the country”, says Paulo Sousa.