Bank of Mozambique created Government of Mozambique took over, without compensation, the Mozambican operations of Banco Nacional Ultramarino, a Portuguese colonial bank that had been acting as the bank of issue for the colony. This became the nucleus of Bank of Mozambique. In 1977 the government also nationalized almost all banks in the country, including the Casa Bancária de Moçambique, and the Mozambican operations of Banco de Crédito, Comercial e Industrial and Banco Comercial de Angola, and merged them into Bank of Mozambique. At the same time it closed the operations of Banco de Fomento Nacional and Banco Pinto e Sotto Mayor. (The
White Africans of European ancestry population of 300 in Madagascar. The British population of Angola is estimated at around 700. When Angola won independence from Portugal in 1975, most British people in Angola resettled in the United Kingdom, South Africa, Namibia (South-West Africa), Zimbabwe (Rhodesia), Portugal or Brazil. Meanwhile, most from Mozambique left for either Zimbabwe (Rhodesia), South Africa or the UK. However, even before 1975, the number of British people in Angola and Mozambique was small, especially compared to the inhabiting Portuguese population. In Mozambique, the British population numbers 1,500. When Mozambique gained independence from Portugal in 1975, most British people left for either