The National Investment Bank ( pt, Banco Nacional de Investimento, abbreviated: BNI) is a Mozambican state owned

development bank A development financial institution (DFI), also known as a development bank or development finance company (DFC), is a financial institution that provides risk capital for economic development projects on a non-commercial basis. , total commitme ...

in association with the Mozambican Ministry of Finance. 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 Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and priv ...

, 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.

History

BNI was founded in 2010, 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. In August 2012, BNI took an advisory role in the government acquisition of a 5% stake at Vale (mining company) operation in Mozambique. 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,

Institute of Management of State Holdings An institute is an organisational body created for a certain purpose. They are often research organisations ( research institutes) created to do research on specific topics, or can also be a professional body. In some countries, institutes ca ...

(IGEPE) 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. As of the end of 2013, BNI was assigned by government protocols and agreements with foreign development banks like

BNDES The National Bank for Economic and Social Development ( pt, Banco Nacional de Desenvolvimento Econômico e Social, abbreviated: BNDES) is a development bank structured as a federal public company associated with the Ministry of the Economy of Bra ...

from Brazil and KFW from Germany, aiming to facilitate Public–private partnerships between foreign companies and state owned corporations concerning major projects in the country, sometimes managing funds for the purpose such as was the case with COFIDES from Spain, which in October 2013 committed a €75 million to such partnerships. In April 2014, BNI arranged for a loan of US$680 million from the Exim Bank of China for construction of the Maputo Sul Catembè bridge.

References

External links

* {{DEFAULTSORT:BNI Banks of Mozambique Economy of Mozambique Companies based in Maputo Banks established in 2010 2010 establishments in Mozambique