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
The Navigator Company has a well-equipped private fire department to prevent fires within its forests. Besides its woodland assets and plants in Portugal, Portucel has developing since 2010 forestation and industrial projects abroad. It studied extensive forestry and industrial investments in Uruguay, Brazil, and Angola, but chose Mozambique for the effect. The Navigator Company The Navigator Company (formerly known as Portucel Soporcel Group) is a Portuguese pulp and paper company. The Navigator Company has a productive capacity of 1.6 million tonnes of paper and 1.4 million tonnes of pulp, with 1,380 km of forest, and an annual turnover of over €1.5 billion (US$1.9