Looking at the value chain of Absa Bank Moçambique's customers, Patrícia Darsam, Director of Corporate and Investment Banking, tells us how the bank stands out in the Mozambican market by offering differentiated solutions.
The Mozambican banking sector hosts a large share of companies seeking investment and solutions for their growth. What role does Absa seek to play in this ambition?
We seek to be a pioneer in the banking sector in each of the segments in which we operate. The truth is that we are a bank that thinks locally but with a global vision, which means that our solutions are holistic and accompany each stage of the life cycle of the companies we serve. Above all, we create banking solutions that boost the growth of Mozambican companies, because that is the only way to drive sustainable development of the national economy.
Does your institution have financing options available for the different sectors? Which ones are your biggest focus?
We are focused on the main sectors of the economy, namely Agriculture, Natural Resources and Energy, Consumer, Infrastructure and Logistics. In all of these sectors, the focus on supporting the value chain is a differentiator that we are proud of. The solutions we offer our customers aim to support the particular needs of each of these sectors, always looking for dedicated solutions, whether in financing or transactional banking.
“Our concern is to be close to the customer, understand their challenges and needs, and develop and implement tailor-made solutions. That is and will be our commitment, our motto.”
Does the corporate banking area require any specific attention from your group? If so, what?
Yes, because, in addition to dealing with a customer segment that, by its size and impact on the economy, is highly relevant and significant, many of these companies also have a regional and international presence, which requires the group to focus more on supporting the local team, always aiming to reach customer satisfaction levels and to offer dedicated solutions. Every banking segment has its own specificity, and corporate and investment banking is no different. In addition, the group recognises the potential of our market and makes specialists available to us, not only to support us in structuring some transactions, but also to help share risk and implement differentiated banking solutions.
How do you explain the relevance of financial services in driving the national economy and the country's development?
Financial services are crucial to Mozambique's development because they are a socio-economic foundation. If, on the one hand, financial literacy enables financial inclusion and access to banking and banking products, on the other hand, in the case of companies, financial services make business growth and development possible insofar as they provide access to the financing and banking solutions needed to grow the volume of those businesses. They also enable local companies to be visible in international circuits, which positions Mozambique and its companies at a level of global competitiveness.
In the investment area, what elements and strengths set you apart from the competition?
I believe Absa Bank Moçambique's great strength is the personalisation of our services and the focus on our people. We put our customers at the centre of everything we do. To that end, besides being attentive to their needs, we are fully available to support them in every situation. If a company needs a specialist in a particular area, we find one; if it needs a particular solution, we support it in developing it. That is how we look at each of our customers: as partners. We bring customised solutions according to the customer's needs and we are proud to be a relationship bank focused on the customer and their business.
On a more personal note, how does Patrícia Darsam view the current national market?
In recent years, the national and world economies have faced unexpected challenges, first with Covid and, more recently, with the Russia–Ukraine conflict, which has affected various macroeconomic variables, such as rising interest rates and inflation levels, thereby affecting economic growth. Mozambique, being an emerging country, has not only these challenges but also internal ones, including significant external dependence, a deficit in the balance of payments and a tax regime that requires reform, which poses even greater challenges to economic growth and development. However, our country also presents great opportunities, and I am not looking only at opportunities in the Oil and Gas sector, but also at the other sectors, such as agriculture, tourism, energy, and so on. With greater macroeconomic stability, combined with the return of international confidence, I believe that in the near future we will again achieve satisfactory levels of economic growth, thus opening up opportunities for Mozambican citizens and companies to prosper.
The global business world is beginning to return to normal. What do you consider to be the right formula for our national companies to keep pace with this economic recovery?
In reality, and notwithstanding all the challenges we have faced in recent years, we have stayed close to our customers, working side by side with them and supporting them in their most diverse needs. Our stance will remain, but, given the dynamics of today's world, there is also a need to bring into debate and awareness topics that are beginning to gain considerable relevance, such as aspects linked to environmental, social and governance sustainability, as well as issues associated with cyber risks that may affect our customers. As a partner, our role is not only to offer financial solutions to our customers, but also to support them in becoming safer entities that are committed to sustainable growth.
Our country has countless strengths. In which areas might Mozambican companies come to offer added value to the international market?
Besides the obvious energy sector, it is important to look at tourism and agriculture as two important poles of growth.
Banks have been developing various technological solutions that make citizens' day-to-day lives easier. Do you consider that Absa's corporate banking has followed this trend?
Yes, without a doubt. And that is the only way it makes sense. Banking institutions exist to serve citizens and national and international companies so that they have a solid structure with which to grow and face the various economic challenges. The world is changing very fast and we have an obligation to listen to what the market tells us, and not only to meet its expectations but also to exceed them.
As for the future, what prospects has the Bank set for these areas in the coming years?
Technology makes it possible to anticipate needs, analyse data quickly and increase efficiency in the management and delivery of financial services. And it is in this spirit that we continue to invest in digital solutions that make the day-to-day lives of our individual customers and businesses easier. We want to create convenience and flexibility and to help grow our customers' businesses. Our concern is to be close to the customer, understand their challenges and needs, and develop and implement tailor-made solutions. That is and will be our commitment, our motto.
