Nedbank becomes majority shareholder of Banco Único

nedbank

Nedbank, one of the largest banks in Southern Africa, has reinforced its commitment to Banco Único with the acquisition of an 11% stake, becoming the majority shareholder with a 50%.

“This increased participation in the part of Nedbank is a clear sign that it believes in Mozambique, the Mozambican economy and the management of Banco Único. Nedbank has demonstrated that it will contribute to Banco Único’s alignment with international best practices in terms of capital management, risk, compliance and governance; in addition to complying with all regulatory aspects imposed by the Banco de Moçambique, it will also act in accordance with all regulations of the Nedbank Group in these matters”, said António Correia, chief executive officer and founder of Banco Único.

“Having the Nedbank as majority shareholder has also significantly enhance competitiveness and Banco Único’s ability to add value in the most varied dimensions, the large investment projects that are happening in the country and strengthen its offering for the various market segments”, said Correia.

Nedbank entered became a shareholder of Banco Único in June 2014 with the acquisition of 36.4% of its capital, and later acquired a stake of 39%, levelling out with Gevisar one of the two major shareholders of the bank.

According to Mpfundo Nkuhlu, chief operating officer of Nedbank, “this participation in Banco Único, allows Nedbank serve the growing number of its customers who need a bank, or do business in Mozambique; and fits with its vision and strategy of growth operations in the SADC and East African region in order to become a Pan-African Bank reference and the regional partner of excellence for its customers”.

“The Gevisar, a partnership between Américo Amorim Group and Visabeira, will remain as a reference shareholder of Banco Único with a stake of about 30%, and will continue to be a strategic partner of the bank. On this occasion, I have to give a special note of appreciation to Gevisar which was the main investor in the creation of Banco Único and financially supported the whole structure of the bank”, added Correia.

Source: Magazine Independente

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