Real Estate Investor Magazine Mozambique Real Estate Investor Magazine Mozambique 2014 | Page 22

ADVERTORIAL

By Bryan Wester

A bank, that is changing the way Mozambique does property

B

ancABC (African Banking
Corporation) is rolling out
a complete and aggressive
strategy to further foster the
growth of the real estate market
of Mozambique. At the same time BancABC
is empowering all of the country’s citizens
with the opportunity to own real estate by
grating up to 100% home loans. This drastic
game changing strategy is unique to this
country where property prices consistently
top the US$1 million mark.
The establishment of ABC Holdings, (the
parent company to BancABC) commenced
with a merger between First Merchant
Bank (FMB) and Heritage Investment Bank
(HIB) in 1997. This Mozambican branch
opened its doors in 2001 with the focus on
corporate clients. After initial restructuring
the bank opened it’s doors to the public and
now operates over 10 branches throughout
the country with plans to open more branches
soon.
BancABC is currently in the process of
obtaining a new shareholder in the form of
Atlas Mara. BancABC aims to aggressively
take the market of Mozambique and real
estate to a new level, through our innovative
products, which break down existing barriers.
These create a higher level of access to
funding for all citizens and foreign residents.
This is where the new revolutionary
BancABC product (by Mozambican
standards) of up to 100% in home loans
comes to the forefront.
It has been unreachable for many local
citizens to obtain any financing for their
homes, due to the previously high interest

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Mozambique Real Estate Investor

rates sometimes reaching up to 21%. This
thereby makes it extremely difficult for the
locals to take part in the property sector
and move into the newer, more modernised
housing which is now on offer.
BancABC Mozambique muscled its way
into the mortgage market by launching our
‘up to 100%’ campaign to the Mozambique
market in July 2014. This mortgage product
was designed and launched after a series of
consultations involving staff, customers and
other in \