Bank credit to the economy grew in July for the third consecutive month, reaching 247.7 billion meticals (3.8 billion dollars), the highest figure since the beginning of this year.
Statisticians from the Bank of Mozambique (BoM) explained that this performance represents a 1% increase on the volume of credit granted to the economy by the banks in June, which then totalled 245.3 billion meticals.
The central bank said that credit to private individuals continues to lead and has been growing since the beginning of the year, and that in the period under review it totalled 94.5 billion meticals (1.4 billion dollars), also the highest figure in at least a year.
‘In the transport and communications sector, total credit granted by banks fell slightly to 26 billion meticals, in the manufacturing industry it rose to 25.2 billion meticals and in commerce it stood at 24.6 billion meticals,’ he clarified.
The report recalled that the reference interest rate for credit operations in Mozambique remained at 21.2 per cent in September, for the second month running, in a decision by the Mozambican Association of Banks (AMB).
Data from the central bank indicates that 15 commercial banks and 12 microbanks operate in Mozambique, as well as credit cooperatives and savings and credit organisations.
