Annual Report 2007

A n n u a l R e p o r t 2 0 0 7
Branch Network
In 2007 Banco ProCredit expanded its branch
network from nine to 12 branches. The bank established
a presence in Gaza province by opening
a branch in Xai Xai. This city is located 210
kilometres north of Maputo and has an economy
based primarily on agriculture and fishing.
In Maputo the bank sought to strengthen its
presence in commercial districts and to expand
outreach to the substantial percentage of the
city’s population that still does not have a bank
in their neighbourhood. In June the institution
established a small branch in Baixa, the commercial
centre of Maputo. In September it opened
a branch on Avenida 24 de Julho, in a thriving
commercial district with shops, restaurants and
Zambia
Botswana
Zimbabwe
South Africa
Beira (2)
Chimoio (1)
Xai-Xai (1)
Maputo (6)
Matola (1)
other businesses which also has a sizeable middle-class
population. These two branches are expected
to attract large volumes of deposits and to
issue larger business loans and housing improvement
loans. Two more branches in Maputo are already
under construction and will open in early
2008. One will be in an area with many shops and
small markets at the point where traffic enters
the city centre. The other will be in the Benfica
district, close to one of the city’s major markets
on the north-western edge of the capital.
Banco ProCredit also took the first steps towards
constructing a new head office. This facility will
reduce the bank’s monthly rental costs and, most
importantly, it will enhance the bank’s image as
Mozambique
Nampula (1)
Indian Ocean