Annual Report 2007

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A n n u a l R e p o r t 2 0 0 7 Branch Network In <strong>2007</strong> 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
a reliable and sustainable institution. The bank purchased the site in <strong>2007</strong>. Construction work is expected to start in the third quarter of 2008. The bank often faces delays in expanding its network of offices due to legal obstacles and the failure of construction firms to comply with deadlines. Mozambique’s industrial sector is under- developed and lacks the capacity to satisfy the demand for many products and raw materials. To cope with these problems and to meet the proposed objectives for the coming year, the bank set up a Facilities Department with a staff consisting of an architect, three engineers, and two project co-ordinators. B r a n c h N e t w o r k
Page 1 and 2: Annual Report 2007
Page 3 and 4: Mission Statement 4 Letter from the
Page 5 and 6: Letter from the Board of Directors
Page 7 and 8: ProCredit Holding has an investment
Page 9 and 10: the group as a whole, expressed in
Page 11 and 12: ProCredit in Africa ProCredit is pr
Page 13 and 14: Name ProCredit Bank Democratic Repu
Page 15 and 16: anches during 2007, one in Xai-Xai,
Page 17 and 18: Political and Economic Environment
Page 19 and 20: other branches in southern Mozambiq
Page 21 and 22: Other Banking Services Banco ProCre
Page 23 and 24: M a n a g e m e n t B u s i n e s s
Page 25 and 26: Manjacaze; the one in Matola, servi
Page 27: ing from Banco ProCredit’s activi
Page 31 and 32: of instruction covering a total of
Page 33 and 34: Business Ethics and Environmental S
Page 35 and 36: Aníbal Hilário Wate, Potter Aníb
Page 37 and 38: Maria Simão had always wanted to h
Page 39 and 40: F i n a n c i a l S tat e m e n t s
Page 41 and 42: Income Statement For the years ende
Page 43 and 44: 4. Loans and advances to customers
Page 45 and 46: The state creditor balance includes
Page 47: Contact Addresses Head Office Av. Z

Annual Report 2007

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