The Economist Intelligence Unit (EIU) says Mozambican banks are making efforts to attract more Chinese business customers as Chinese companies show growing interest in Mozambique, Lusa reports.
The Portuguese news agency quotes a report on Mozambique by EIU economic analysts as saying there is a “tendency for the banking sector to improve its offers to Chinese companies” and that this reflects the growth of the Chinese commercial presence in the country.
The EIU cites as an example the bank Millennium bim, which this month announced a foreign currency exchange service for Chinese companies – the sort of service also offered by banks such as Standard Bank and Société Générale.
The report says China has a hand in big projects in Mozambique such as tapping liquefied natural gas and expanding the railway network.
“Mozambique’s financial sector is too small to offer credit to these megaprojects, but banks are probably hoping that these large enterprises will encourage other Chinese private firms to expand their presence in the country,” Lusa quotes the EIU report as saying.