Mozambican President thanks Standard Bank Group for 120 years
27 August 2014

Mozambican President Armando Guebuza has praised the contribution that Standard Bank Group has provided to the growth and stability of the Mozambican economy, especially in the financial market and the socio-economic development of the country since it first set up operations in country in 1894.

President Guebuza was guest of honour at a gala dinner hosted by Standard Bank Group to commemorating its 120 years in Mozambique.

The President said the innovative products, competitive prices and diversification of clients and sectors of activities make Standard Bank Mozambique one of the pillars of macroeconomic stability of the country. He also mentioned that the bank was responsible for many of the deals that led to foreign investment in the coutnry over recent years.

"In these 120 years of activity in Mozambique, Standard Bank has been governed by a culture of rigor and professionalism, values that have served as pillars for its firmness and development of its levels of competitiveness and affirmation of our financial market, thus contributing for its stability and confidence of investors," he said.

This stability, according to the President, can be witnessed by the entry of more financial institutions and expansion of banking network throughout the country.

"In 2005, we had 13 registered banks in the country and now we have 18. The number of bank branches increased from 228 in 2006 to 531." On the other hand, Armando Guebuza, recognized the importance that Standard Bank Mozambique holds to various social areas, such as sport, health and culture. Speaking at the gala dinner, Chairman of Standard Bank Mozambique Tomaz Salomão said that the bank course during the 120 years of existence in Mozambique was characterized by actions fostering socio-economic development of Mozambique. This, he explained, is done through the financing of the economy, enterprises and Mozambican families, as well as through projects of social context for the benefit of all social strata.

"Celebrating 120 years should be relevant to each Mozambican because it is through the financing of infrastructure projects, of energy and hydrocarbons, railways and ports, roads, airports, hospitals, schools and in all the other sectors, that provides the viability essential to catalyze employment creation. It is also to be part of the promotion of culture, citizenship and sport, especially football", said Mr Salomão.

Tomaz Salomão further explained that Standard Bank Mozambique has reached these years because its parent company Standard Bank Group knew how to adapt to contexts and changes that have occurred throughout the history of the country.

He assured the guests: "We will continue to get closer to our customers as it is them who is the reason of our existence."

For more on Standard Bank Group's operation in Mozambique see

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