Mozambique’s banks start to feel the pain

Mozambique’s banks start to feel the pain

Good afternoon. For years, banking has occupied a privileged position in Mozambique’s economy. Political crises, economic slowdowns and periods of instability have come and gone, yet the country’s major lenders have generally remained profitable. Portuguese and South African shareholders have often viewed their Mozambican operations as dependable contributors to earnings, while domestic banks benefited from operating in a relatively protected an…