Absa recognised as the ‘Best Bank for Small and Medium Enterprises’
Absa recognised as the ‘Best Bank for Small and Medium Enterprises’. Absa Bank received this year’s award for ‘Best Bank for Small and Medium Enterprises inMozambique’, awarded by the prestigious British magazine Global Banking & Finance Review, an international reference for information on the financial markets and analysis of the banking sector.
The award honours the bank’s outstanding commitment and contribution to national SMEs, which play a key role in development and represent more than half of Mozambique’s total business universe. In recognition of the impact of SMEs on the national economic fabric, Absa Bank Mozambique has encouraged partnerships and sought to present the best banking solutions for this segment.
In 2023, the Bank formalised agreements with various entities with a view to boosting the development of SMEs and encouraging the revitalisation of the national economy. As part of this initiative, the offer of relevant services to economic agents was strengthened, which contributes to the expansion of business and investment opportunities. This partnership has given Absa greater and better visibility of the needs of SMEs, which has allowed it to redefine an offer that better meets the needs of this segment.
“It is with great honour that we receive this award, which recognises our role as a partnerto SMEs, as we understand that the country’s economic development is the result of the efforts and contribution of various agents, including small and medium-sized enterprises, as they contribute to the creation of jobs, stimulate and provide products and services, and increase the competitiveness of the economy. We understand the unique needs of SMEs and work tirelessly to offer innovative and personalised financial solutions that boost their success. This award is a testament to the hard work and dedication of our entire team, who strive every day to provide exceptional service to our clients,’ said Pedro Carvalho, Chief Executive Officer of Absa Bank Mozambique.
Absa has worked tirelessly to facilitate access to bank credit for this segment, offering treasury support solutions for companies integrated into the market’s main ecosystems, making them more competitive and prepared to respond to demand. It was in this context that the Bank launched an SME financing campaign and developed innovative solutions to mitigate the risk of access to financing for SMEs in corporate chains, promoting the growth of these companies through strategic partnerships.
International recognition, combined with local initiatives, demonstrates that Absa not only understands the challenges faced by SMEs, but that it is also equipped to offer effective and innovative solutions that boost the success of companies and, consequently, Mozambique’s economic progress.
