Barclays Africa said to be lead bidder for Mozambican bank
Barclays Africa Group, the South African bank with operations across 12 countries on the continent, is the lead bidder for Mozambique’s Moza Banco, according to people familiar with the matter. The central bank had received three proposals, which would be reviewed by an independent panel before the winner was announced in July, one of the people said, asking not to be named because the process is private. Barclays Africa’s existing operations in Mozambique were too small to give it a dominant position, so the acquisition would help it expand quickly, two other people said. The purchase comes as bank failures in Mozambique mount with regulators ordering the liquidation of two lenders in May and the closure of O Nosso Banco in November. The central bank took over Moza Banco in September after administrative costs soared and the solvency ratio of the country’s fourth-biggest lender dropped to zero. The regulator said in October that it would stabilise Moza Banco and prepare it for sale...
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