Millennium bim and the Machungo family signed a Memorandum of Understanding this Thursday, 22 October, formalising the creation of the Mário Machungo Arts Award. On behalf of the Bank, the document was signed by Chairman of the Board Moisés Jorge. Representing the Machungo family, Margarida Machungo, Mário Machungo’s daughter and the family’s representative, signed the agreement.
The Award honours Mário Fernandes da Graça Machungo, the first Chairman of the Board of Banco Internacional de Moçambique (Millennium bim), a position he held from the Bank’s establishment in 1995 until 2014. Mozambique’s Prime Minister between 1986 and 1994, Mário Machungo played a prominent role in the country’s economic and institutional life and led the Bank during its first two decades. The tribute also recognises his strong connection with culture and, in particular, the visual arts, an area he valued and helped establish within the Bank’s institutional history.
The date carries particular symbolism: the creation of the Award is being formalised during the commemorative period marking Millennium bim’s 30th anniversary and just days before the Bank’s 31st anniversary, which falls on 25 October.
Representing the Machungo family, Margarida Machungo said: “For our family, this Award represents a way of preserving Mário Machungo’s memory through an initiative that looks to the future. Working together will make it possible to establish a distinction that is solid and relevant to the arts in Mozambique.”
Millennium bim Chairman of the Board Moisés Jorge said: “Mário Machungo left a profound mark on the history of Millennium bim. He was also a man of culture, with a very close relationship with the arts, who helped establish a tradition at the Bank of supporting and valuing Mozambican artistic creation. This Award is a way of preserving that legacy, but above all of giving it a future, creating new opportunities for artists and for Mozambican art.”
The creation of the Award forms part of Millennium bim’s work in the field of Culture, one of the pillars of its Corporate Social Responsibility Plan, and continues a relationship with the arts that has accompanied the Bank since its early years.
Over three decades, Millennium bim has played an active role in promoting Mozambican artistic creation by supporting artists, exhibitions and cultural institutions, valuing its collection, and creating spaces and opportunities to showcase emerging talent.
The Mário Machungo Arts Award continues this work and projects it towards a new generation of artists.
With the signing of the Memorandum of Understanding, a new phase of preparation and implementation of the Award begins. During 2027, the regulations, participation categories, timetable and other elements required for its public launch will be defined.
