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Celso Correia holds responsibilities as Chairman of Insitec Holdings, a diversified private holding firm based in Mozambique’s capital Maputo. He and his executive team have strategically undertaken acquisitions and investments over the past half-dozen years that have led to infrastructure advances and the creat… Read More
Celso Correia holds responsibilities as Chairman of Insitec Holdings, a diversified private holding firm based in Mozambique’s capital Maputo. He and his executive team have strategically undertaken acquisitions and investments over the past half-dozen years that have led to infrastructure advances and the creation of several thousand jobs. Sectors in which Celso Correia’s company is active include banking, construction, energy, transportation, and urban services.

One of the Insitec invested firms which Mr. Correia leads as Chairman is Comercial de Investimento (BCI). With Insitec a 20 percent shareholder, the financial institution has experienced unprecedented growth and is now Mozambique’s second largest bank. Affiliated financial and real estate development firms which Celso Correia and his team lead include Insitec Imobiliária, Insitec Investimentos, and Insitec Constrói.

Among the diverse power and energy projects that Celso Correia guides is the construction of a major hydroelectric plant. As President of Hidroeléctrica de Mphanda Nkuwa, SA, he is directing financing and construction of a plant that will derive power from the existing Cahora Bassa dam. This downstream hydroelectric power will be converted into 2500 MW of electrical energy output. Celso Correia’s goals with the project include promoting Mozambican energy independence and creating a power grid with excess electricity that can be sold in regional foreign markets.

Celso Correia’s company maintains a robust social responsibility commitment. As sponsor of the Água é Vida program since 2009, Insitec Holdings has contributed more than $2 million towards development of an advanced clean-water supply infrastructure. Celso Correia also supports initiatives towards agricultural development and comprehensive pediatric emergency health care. Read Less
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