History of Africa Egypt and Ethiopia were already independent. Many countries followed in the 1950s and 1960s, with a peak in 1960 with the Year of Africa, which saw 17 African nations declare independence, including a large part of French West Africa. Most of the remaining countries gained independence throughout the 1960s, although some colonizers (Portugal in particular) were reluctant to relinquish sovereignty, resulting in bitter wars of independence which lasted for a decade or more. The last African countries to gain formal independence were Guinea-Bissau (1974), Mozambique (1975) and Angola (1975) from Portugal; Djibouti from France in 1977; Zimbabwe from the United
Bank of Mozambique Bank of Mozambique The Bank of Mozambique () is the central bank of Mozambique. The bank does not function as a commercial bank, and has the responsibility of governing the monetary policies of the country. The president of the Republic appoints the governor. The bank is situated in the capital, Maputo, and has two branches, one in Beira and one in Nampula. The Bank of Mozambique is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion. Most of Mozambique was a Portuguese overseas territory for several centuries. After independence in 1975, the newly