The Bank of Mozambique (BdM) announced the appointment of resident inspectors for Millennium bim and Moza Banco, effective June 23.
According to a statement released on Tuesday (June 23), the central bank announced that it had appointed Amélia Josefina Manícua Sirage, an employee of the institution, to serve as resident inspector at Millennium bim.
According to the BdM, the appointment comes “following the monitoring of Millennium bim.” The press release states that the resident inspector will, among other tasks, “monitor the bank’s business model and strategy, track and analyze developments in the management and internal control systems, and participate in relevant meetings of the governing bodies.”
On the same day, the regulator also announced the appointment of Hélder Manuel Chachuaio Muianga, a staff member of the institution, to serve as resident inspector at Moza Banco.
The statement adds that the resident inspector will, among other tasks, “monitor the bank’s business model and strategy, track and analyze developments in the management and internal control system, and participate in relevant meetings of the governing bodies.”
In both statements, the Bank of Mozambique emphasizes that, “despite this supervisory action,” both Millennium bim and Moza Banco “remain solid and stable.”
Millennium bim, which began operations in 1995 as part of a partnership between Millennium BCP and the Mozambican government, has a share capital of approximately $60.5 million. The institution reported a 54% drop in profits in 2024, to $44.5 million, which also reflects the impact of increased impairments and provisions.
Moza Banco “is one of the leading commercial banks in Mozambique, offering a wide range of financial products and services to corporate clients, SMEs, and individuals. With a mission to make a difference every day and contribute to Mozambique’s success, it aims to drive economic development and promote financial inclusion.”
