MOZAMBICAN PRESIDENT INAUGURATES NEW CENTRAL BANK HEADQUARTERS

MAPUTO, Mozambican President Filipe Nyusi has inaugurated the new headquarters of the Bank of Mozambique in Maputo with words of praise for the role of the central bank in checking inflation and in halting the depreciation of the Mozambican currency, the metical.

At the height of the depreciation in September last year, the exchange rate of the metical fell to 80 to one US dollar but a number of vigorous intervention by the Bank of Mozambique, notably in sharply raising its benchmark interest rates, reversed the trend, and now the rate is at about 60 meticais to the dollar.

The headquarters inaugurated here Monday by the president comprises three buildings which are a towering new landmark in downtown Maputo. The largest of the buildings is a 29-storey officer tower which occupies a construction area of 25,900 square metres.

Each floor can hold 45 work stations, organized under an open plan. The upper floors also contain meeting rooms, training rooms, and a data processing centre.

Adjacent to it is a 19-storey joint office block and multi-storey car park, covering an area of 56,000 square metres. The front part of the building contains offices with room for 12 work posts per floor.

At the back, the first 14 floors are a car park which can hold 690 vehicles. Above them are a library, a museum, space for archives, a canteen, a bar and a gymnasium. This building also contains water tanks and pumps for the entire complex, and fire fighting equipment.

The third, much smaller, building is described as a technical pole. It is six storeys tall covering an area of 4,432 square metres. It contains the electricity transformers and back-up generators. All the buildings have two basements and are inter-connected.

The entire complex cost 300 million US dollars. A source in the central bank says the whole amount came from the bank’s own funds, and did not involve any debt.

Source: NAM NEWS NETWORK

MOZAMBICAN PRESIDENT INAUGURATES NEW CENTRAL BANK HEADQUARTERS

MAPUTO, Mozambican President Filipe Nyusi has inaugurated the new headquarters of the Bank of Mozambique in Maputo with words of praise for the role of the central bank in checking inflation and in halting the depreciation of the Mozambican currency, the metical.

At the height of the depreciation in September last year, the exchange rate of the metical fell to 80 to one US dollar but a number of vigorous intervention by the Bank of Mozambique, notably in sharply raising its benchmark interest rates, reversed the trend, and now the rate is at about 60 meticais to the dollar.

The headquarters inaugurated here Monday by the president comprises three buildings which are a towering new landmark in downtown Maputo. The largest of the buildings is a 29-storey officer tower which occupies a construction area of 25,900 square metres.

Each floor can hold 45 work stations, organized under an open plan. The upper floors also contain meeting rooms, training rooms, and a data processing centre.

Adjacent to it is a 19-storey joint office block and multi-storey car park, covering an area of 56,000 square metres. The front part of the building contains offices with room for 12 work posts per floor.

At the back, the first 14 floors are a car park which can hold 690 vehicles. Above them are a library, a museum, space for archives, a canteen, a bar and a gymnasium. This building also contains water tanks and pumps for the entire complex, and fire fighting equipment.

The third, much smaller, building is described as a technical pole. It is six storeys tall covering an area of 4,432 square metres. It contains the electricity transformers and back-up generators. All the buildings have two basements and are inter-connected.

The entire complex cost 300 million US dollars. A source in the central bank says the whole amount came from the bank’s own funds, and did not involve any debt.

Source: NAM NEWS NETWORK