Beira, Mozambique being a favourite holiday destination for white Rhodesians. One reminder of this is the Grande Hotel, built by the Portuguese, near the shore of the Indian Ocean. By 1970, the city of Beira had 113,770 inhabitants. After independence from Portugal in 1975, many white ethnic Portuguese left the city. Mozambique was ravaged by a civil war from 1977 to 1992, opposing Marxist FRELIMO, which controlled the government, to the rebels of RENAMO, descending to near total chaos in a couple of years. The famine, disease and poverty-stricken country collapsed. In Beira, the famous Grande Hotel was occupied by around 1,000
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