Millennium bim and the Machungo family formalised the creation of the Mário Machungo Arts Prize on 22 October, an initiative designed to promote national artistic creation and perpetuate the legacy of the bank's first board chairman by opening new opportunities for Mozambican artists.
The initiative was made official through the signing of a memorandum of understanding, subscribed by Moisés Jorge, chairman of the board of directors of Millennium bim, and Margarida Machungo, daughter of Mário Machungo and representative of the family.
According to a press release issued by the institution, the prize honours Mário Fernandes da Graça Machungo, the first chairman of the board of directors of Banco Internacional de Moçambique (Millennium bim), a position he held from the bank's founding in 1995 until 2014. Prime Minister of Mozambique between 1986 and 1994, Mário Machungo played a defining role, according to the institution, in the country's economic and institutional life, and led the bank through its first two decades of activity.
"The tribute equally recognises his strong connection to culture and, in particular, to the visual arts — an area he valued and helped to affirm within the bank's institutional journey," the press release states.
On the occasion, Margarida Machungo said: "For our family, this prize represents a way of preserving Mário Machungo's memory through an initiative that looks to the future. Working together will allow us to build a solid and meaningful distinction for the arts in Mozambique."
Moisés Jorge, in turn, highlighted the former leader's contribution to the institution's history and to the promotion of national art. "This prize is a way of preserving that legacy, but above all of giving it a future, creating new opportunities for artists and for Mozambican art," he said.
The creation of the Mário Machungo Arts Prize falls within Millennium bim's engagement in the area of culture, one of the pillars of its Corporate Social Responsibility Plan. Over three decades, the bank has supported artists, exhibitions, and cultural institutions, as well as promoting its own artistic collection and showcasing emerging talent.
With the signing of the memorandum, the preparation and implementation phase has now begun. During 2027, the prize's regulations, participation modalities, calendar, and other elements required for its public launch are to be defined. The formalisation of the initiative takes place within the framework of Millennium bim's 30th anniversary celebrations, just days before the institution's 31st anniversary, marked on 25 October.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=554997
