First Capital Bank Moçambique said this Monday, November 18, that it has established a significant partnership with Proparco, joining its Trade Finance Programme.
According to a statement from the financial institution, this partnership involves a set of guarantees for Trade Finance instruments worth 632 million meticals (ten million dollars), granted by Proparco to First Capital Bank Mozambique, reinforcing the implementation of this financing programme in the region.
‘Proparco’s Trade Finance programme was specifically designed to respond to Mozambique’s import needs, seeking to mitigate risks by providing guarantees for trade finance instruments issued by the bank,’ reads the note.
By guaranteeing these instruments, the bank will strengthen its ability to support national importers and establish stronger commercial ties with African and international exporters. ‘On behalf of First Capital Bank Mozambique, I would like to express our gratitude to Proparco for the trust it has placed in us. Trade finance is a core area of our business and this partnership will be key to driving our growth in this segment. We look forward to exploring the full potential of this collaboration,’ said João Rodrigues, CEO of First Capital Bank Mozambique, during the signing of the agreement.
According to Emmanuel Haye, head of Proparco’s Financial Institutions and Inclusion Division in Africa, ‘the company is excited about this partnership with First Capital Bank, the first bank to join our trade finance programme in Mozambique, where trade finance tools are essential for strengthening food security, especially in a global context of increased tensions affecting access to essential goods’.
According to the document, with this collaboration, First Capital Bank Mozambique continues to consolidate its role as a crucial player in the financial and commercial sectors, reinforcing its commitment to providing innovative solutions that respond to the growing needs of the Mozambican market.
