Standard Bank opens a new branch in Nacala

Chaired by the governor of Nampula province, Victor Manuel Borges, the opening of the new branch is part of the gradual expansion strategy of Standard Bank across the country, which is  complemented by the introduction of electronic channels and is a clear sign that the bank remains committed with the revitalization of the national economy.

During the opening ceremony, Tomaz Salomão, chairman of the Board of Directors of Standard Bank, said that the Nacala Baixa branch represents a contribution to the increase in channels of payment in addition to the Standard Bank resources, which range from infrastructure to human resources, made available to the Government and the private sector, in the arduous and necessary task of financial inclusion.

“It is in this context that the branch is opened to all economic agents of the region, including households, to find the solutions they seek in order to allow them to achieve their goals”, said Salomão.

In turn, the provincial governor said that Nampula offers economic conditions for more and more banks to be established due to the dynamics of their business and of course, due to Nacala economic zone.

After congratulating Standard Bank for the size and quality of the new branch, Victor Manuel Borges said that Nampula has to offer to financial operators a vibrant economy that year after year shows its strength as it can be shown by the figures.

“In 2015, the global production of Nampula reached 58 billion meticais and we expect this year to reach 64 billion” said Victor Manuel Borges.

In the current scenario, Nacala Porto city stands in second place in terms of concentration of banking services providers in the province of Nampula after Nampula city.

For the director of Bank of Mozambique branch in Nampula, Assunção Lobo, the development of the banking system in the province is visible, both in terms of the increase in the number of institutions, as well as from the point of view of a more diversified range of operations and financial operators.

“The opening of the new Standard Bank branch in Nacala shows the need to provide the bank customers and general public better services in better conditions, and to the employees, a wider and more comfortable working space”, concluded Assunção Lobo.

This initiative from Standard Bank is also a response to the calls from the Government to the financial inclusion of all Mozambicans, through the expansion of financial services outside the big urban areas.