- Daniel Chapo reveals plan to distribute the Portuguese shareholder’s 36% stake among citizens, bank employees and institutional and corporate investors. Transaction remains subject to negotiations and authorisations.
The Mozambican government wants 11% of Banco Comercial e de Investimentos (BCI)’s share capital to be made available to the domestic public, including the bank’s employees, as part of the possible exit of Banco Português de Investimento (BPI), which currently holds a 36% stake in the bank. The remaining 25 percentage points of the Portuguese shareholder’s stake would be allocated to institutional and corporate investors, according to a proposal announced on Wednesday by President Daniel Chapo.
The announcement was made in Maputo during the ceremony marking the 28th anniversary of the Mozambique Stock Exchange (BVM), which coincided with the listing of Mozambique Electronic Cargo Tracking Services (MECTS).
“The government has been seeking to create conditions for the 36% stake currently held by BPI to become an opportunity to broaden the presence of Mozambican investors, including citizens, companies and institutional investors,” Chapo said.
The proposal under consideration envisages distributing BPI’s entire stake between two groups of potential investors. A portion equivalent to 11 percentage points of BCI’s share capital would be reserved for the Mozambican public, including the bank’s employees. The remaining 25 percentage points would be allocated to institutional and corporate investors.
The transaction has not been finalised. The President stressed that any transfer of the shares would have to comply with the legally required valuation, negotiation and authorisation procedures.
No details have been disclosed regarding the estimated value of BPI’s stake, the price potential buyers would have to pay, the criteria for public access to the shares or the expected timetable for the transaction.
The initiative forms part of a broader government strategy to increase domestic ownership of companies of economic importance. Chapo said the government was working to improve the legislative framework applicable to banks, insurers and other institutions, with the aim of promoting greater participation by Mozambican investors while complying with prudential and regulatory requirements.
The President believes that the potential transaction involving BCI could serve as an example of expanding domestic corporate ownership without undermining investor confidence, financial stability or the competitiveness of institutions.
The announced plan represents a proposal to redistribute share ownership, not a definitive decision to sell. Its implementation will depend on negotiations between the parties involved and authorisation from the competent authorities.
Source: Carta de Moçambique