Mozambique to Stabilize Banco Moza to Prepare Lender for Sale

Moza Banco SA, which collapsed after shareholders failed to inject capital into the business, will be stabilized and sold, the southern African country’s central bank said.

“We hope that this process ends in six months, although it may go beyond," Joana Matsombe, a director at the Maputo-based regulator, told reporters in the capital on Monday. Moza Banco’s solvency ratio dropped to zero, below the 8 percent required by regulators, who had to step in and replace the bank’s management, she said.