Portuguese group CGD studies listing Mozambican BCI on the country’s Stock Exchange

The Portuguese group CGD, which leads Banco Comercial de Investimentos (BCI), Mozambique’s largest bank, analyzed yesterday with the Mozambican President the possibility of it being listed on the stock exchange, as well as supporting the materialization of investments. “We told His Excellency that we are in Mozambique in good times and in less good times. That is, there has been a set of difficulties, namely natural, others economic and geopolitical, and therefore, Caixa understands that it is in these moments that it must also affirm its presence,” said the Chairman of the Executive Committee of Caixa Geral de Depósitos (CGD), Paulo Macedo.

The official spoke after an audience with the Mozambican Head of State, Daniel Chapo, where he noted that the possibilities of this bank establishing concessions for investments negotiated between the Portuguese and Mozambican States were discussed, supporting the materialization of said agreements recently reached in terms of bilateral cooperation. “On the other hand, we also spoke about perspectives for the bank, namely whether the bank should be able to be listed on the Mozambique Stock Exchange (BVM), (…) our commitment to also improving BCI’s service to the Mozambican population and Mozambican companies,” he said. Paulo Macedo stated that he assured the Mozambican President that CGD intends to continue being a shareholder of BCI, an interest he had already expressed before, at the end of February, regarding the intention of the Portuguese BPI to sell its position in the Mozambican BCI. BCI has a share capital of 10 billion meticais (138 million euros), in a shareholder structure led (51%) by Caixa Participações, of the Caixa Geral de Depósitos (CGD) group, also including the Portuguese bank BPI (35.67%) and directly by CGD (10.51%), among others, having closed 2024 with 2,712 workers.