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
Brazil–Mozambique relations the largest recipient of Brazilian aid from the national aid agency "Agência Brasileira de Cooperação". In 2014, trade between Brazil and Mozambique totaled $74 million USD. In 2010, Brazil opened an anti-retroviral medicine plant in Mozambique. In 2016, Brazilian investments in Mozambique reached $10 billion USD, mainly in the mining, construction and agriculture industries. Brazilian multinational companies such as Andrade Gutierrez, Odebrecht, Petrobras and Vale operate in Mozambique. Brazil–Mozambique relations Brazil–Mozambique relations refers to the diplomatic relations between Brazil and Mozambique. Both nations are members of the Community of Portuguese Language Countries. Both Brazil and Mozambique were united for three