Arise Fund Agrees to Buy Minority Stake in Moza Banco
Arise Fund has agreed to buy a minority stake in Moza Banco, Kuhanha, which administers the pension fund of Mozambique’s central bank, said in an emailed statement.
* Under the terms of the deal, Moza Banco plans to buy Banco Terra, where Arise Fund holds a stake;
* With the merger, Moza Banco will become one of the 3 main lenders in Mozambique;
* NOTE: Mozambique’s central bank owns more than 80 percent of Moza Banco through its pension fund after the lender collapsed in 2016;
* NOTE Nov. 22: Mozambique Central Bank Is Said to Mull Sale of Moza Banco Stake. Source: Bloomberg