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
Rail transport in Angola Rail transport in Angola Rail transport in Angola consists of three separate Cape gauge lines that do not connect: the northern Luanda Railway, the central Benguela Railway, and the southern Moçâmedes Railway (southern). The lines each connect the Atlantic coast to the interior of the country. A fourth system once linked Gunza and Gabala but is no longer operational. Railway construction began in Angola in 1887, while the country was a colony of Portugal. The Luanda Railway opened in 1889, the Moçâmedes Railway opened in 1910, and the Benguela Railway opened in 1912. The railways continued to be extended inland