Agro-insurance among the products advertised
Banco Nacional de Investimento (BNI) and Empresa Moçambicana de Seguros (EMOSE) have joined forces to offer their customers and the market in general a one stop shop solution, which essentially consists of a broad, integrated and combined offer of products and services. financial and insurance services, under competitive terms and conditions compared to those currently on the market.
The main advantages of this articulated BNI/EMOSE solution are the concentration of insurance, speed, and flexibility in the payment of premiums, coverage and payment of various benefits. With the protocol, clients of BNI, EMOSE and other companies in general, now benefit from a broad, integrated and combined offer of financial and insurance products and services offered by the two institutions, in relatively competitive terms and conditions.
Agricultural insurance
One of the great news announced by the two institutions is the introduction, this year, of agricultural insurance for the collateralization of agribusiness financing operations, thus contributing to the reduction of interest rates applied to the sector.
Tomás Matola, said about this product in particular that it results from the efforts that BNI is developing in order to contribute to the dynamism, modernization and competitiveness of agriculture in general, and agribusiness in particular, understood as one of the main battles for the country’s social and economic development.
By the beginning of next month, BNI and EMOSE should specifically disclose agribusiness, a product found in the final technical arrangements for placing it on the market.
SME guarantee insurance
In order to offer solutions to mitigate the occasional or periodic financial difficulties of SMEs and in a more strategic perspective to contribute to the flourishing of the national small and medium-sized business sector, BNI and EMOSE also announced the introduction of the SME guarantee insurance, a product which will serve to collateralize financing operations for SMEs, which will also greatly contribute to the reduction of interest rates, while also facilitating access to credit by this business segment that forms the basis of the national business fabric.
Still covered by the commercial and strategic partnership, BNI and EMOSE will create a fund for the introduction of insurance to cover the risks of interruption of activities or non-compliance with certain obligations in times of crisis or when movements, variations and/or adverse events in the market, thus minimizing the number of bankruptcies in these moments of crisis.
The act of signing the protocol will take place this Wednesday, April 11, 2018, at 4:00 pm, at BNI, Avenida Julius Nyerere no. 3504 – Block A2, in Maputo City.
The instrument will be initialed by BNI, Dr. Tomás Matola – Chairman of the Board of Directors of BNI, and Eng. Joaquim Maqueto Langa – Chairman of the Executive Committee of EMOSE.
EMOSE was the first post-independence national insurer. It was created by Decree-Law No. 3/77 of 13 January, with the designation of EMOSE – Mozambican Insurance Company, E.E., endowed with legal personality, financial autonomy, as a State-owned company.
With the liberalization of the insurance activity in 1991, EMOSE, E.E. was transformed into a Limited Liability Company (LLC), adopting the name EMOSE – EMPRESA MOÇAMBICANA DE SEGUROS, LLC, with a registered capital of 157.000.000,00 MT, fully subscribed by the shareholders: State with 39%, IGEPE with 31%, workers with 20% and public with 10%. With the entry into force of Decree-Law 10/2004, which approves the new commercial code, EMOSE, LLC changes its name to EMOSE S.A.
Banco Nacional de Investimento, S.A., created on June 14, 2010, 100% owned by the State, through IGEPE, with a share capital of MT 2,240 million, is a development and investment bank, dedicated to the financing of companies and projects that have an impact on economic and social development in a sustainable manner and contribute to improving the lives of Mozambicans.
BNI is the result of a government initiative aimed essentially at:
- Streamlining the development of the country by financing infrastructure and the productive sector;
- Strengthening the capacity of national companies (public and private) with a focus on small and medium-sized companies, with an impact on economic and social development;
- Streamlining the capital market as a financing alternative for national companies;
- Advising the Government on specialized finance matters, namely in the financial structuring for mobilizing financing for structuring projects in the country and in the restructuring and reorganization of companies in the State’s business sector.
BNI, has presented positive results (profit) in the last six years and has paid dividends to the State in an increasing way in the last four years.
