A Mozambican court cleared the former head of SBGroup’s local unit of accusations made by the nation’s central bank that he was involved in manipulating the foreign-currency market. Moneyweb AfricaNews
A Mozambican court cleared the former head of Standard Bank Group’s local unit of accusations made by the nation’s central bank that he was involved in manipulating the foreign-currency market. Adimohanma Nwokocha, who the Banco de Mocambique in July barred from corporate positions at local lenders, had no role in boosting the strength of the local currency, according to a ruling by the Tribunal da Policia da Cidade de Maputo.
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