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Banco Nacional de Investimento

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BNI Banco Nacional de Investimento
Company typeGovernment-owned corporation
IndustryFinance and Development
Founded2010
HeadquartersMaputo, Mozambique
Key people
Adriano Maleiane, (Chairman)
Number of employees
44
Websitewww.bni.co.mz

The National Investment Bank (Portuguese: Banco Nacional de Investimento, abbreviated: BNI) is a Mozambican state owned development bank in association with the Mozambican Ministry of Finance and Ministry of Development. Its goal is to provide long-term financing for sustainable endeavours that contribute to the country's social and economic development. The bank's main areas of activities are Infrastructure, Natural Resources, Energy, Agriculture, Industry & Commerce and Transportation. BNI also seeks to strengthen the capital structure of private companies and the development of capital markets.

The bank is most notably known for its initial operations, including its advisory role in the Government acquisition of a 5% stake at Vale (mining company) operation in the country[1], the arrangement of US$680 with the Exim Bank of China for Maputo Sul Catembe bridge [2] and the financing of Visabeira group - TV Cabo expansion of the country fiber optics network [3]

History

BNI was founded in 2010[4], initially established as the country's first investment bank, through a joint venture between the governments of Portugal (through Caixa Geral de Depósitos) and Mozambique (through the National Treasure Directorate). With a starting capital forecasted at US$500 million, the bank was created to facilitate a closer cooperation between Mozambique and Portugal, and foment various projects, mainly Infrastructure, Natural Resources (mining & hydrocarbons) and Energy.

Given the rapid growth of the Mozambican economy, and consequently the need of the government to participate in the equity of capital-intensive Infrastructure and Natural Resources projects, in December 2012, the Portuguese shares, at the time owned by Caixa Geral de Depositos, were acquired by the Mozambican State through its Equity Agency (IGEPE)[5] From this point onwards, BNI started to focus more on its role of a Development bank, although it still has a strong investment banking arm.[6]



References

  1. ^ - Moz exercising its concession contract rights
  2. ^ - Construction of the Maputo/Catembe in Mozambique due to begin in second half
  3. ^ - Mozambican cable TV company TV Cabo Moçambique invests in expanding its network
  4. ^ - National Investment Bank Created
  5. ^ - Mozambican state owns 100 pct of Banco Nacional de Investimento bank
  6. ^ - Mozambique finally has a development bank
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