How do you plan to take advantage of current growth levels moving forward?

MDGM Over the forthcoming years, and as part of our ongoing commitment to the social and economic development of Mozambique, Millennium bim plans to continue funding both individual and SME/corporate loans and advances, while also maintaining its leadership in customer deposits. Once more, the bank’s approach to innovation in new products, services, and functionalities will be a key driver for our business, aiming for further penetration of services and customer enrollment to different banking business lines. Furthermore, Millennium bim will remain focused on its branch expansion efforts, including rural areas, therefore contributing to a greater and better accessibility of financial services in Mozambique, as a way to promote the financial inclusion of the population, as we have done, historically, since the bank’s inception.

AC As a bank, we have been closely involved in the infrastructure sector. It’s absolutely fundamental for the success of any operation in Mozambique that the infrastructure actually functions. Proper infrastructure is required to meet the needs of the investment being done. For example, we have been involved in financing the railway line that transports coal, the ports, and Nacala Airport, as well as the road from Maputo and South Africa. Infrastructure for us is, and will remain, absolutely key. When you talk about resources, you are not just talking about assisting businesses in Mozambique, but also need to consider the stakeholders around them and ensure that the project goes ahead as smoothly as possible.

How does your bank cater to market conditions, and how does this affect your customer base?

MDGM Millennium bim is leader in all market dimensions. With approximately 1.3 million customers throughout the country, about 50% of the total banked population, Millennium bim has the largest commercial network together with the highest capillarity shown by the 161 branches located all around the country on all provinces and in 54 districts. We are a universal bank; therefore we cater to the mass market, the affluent, and corporate customers. In each of these segments, we address our customers’ needs with a specially designed value proposition, in accordance with their main profile and expectation. Concerning the corporate segment, the high level of customer sophistication is addressed with our capacity to tailor our products and services. We have a dedicated Relationship Manager who is responsible for the customization of the bank’s offers to specific customer’s needs.

AC The key is to target the real sectors, and the companies of which span everyone involved in the sector. By that I mean that if you are going to focus on coal, you need to focus on the main players in coal, but not just the big corporate interests in the middle, as there are many other stakeholders involved in the chain, such as SMEs, and huge numbers of people working for those corporates. As a bank, you look for a value proposition that really takes the interests of all suppliers and workers at the various corporations into account, as well as that of government stakeholders. Standard Bank generates the second highest profits in the Mozambique banking system. As a business, we look at what we can contribute to the country. We want to be an African player, and for us, the real value of this footprint is how we can link customers to other countries around the region. Linking is what Standard Bank is particularly good at. As a business, we have seen dramatic growth over the past few years, which is a mirror of what has happened in the economy. We are a key contributor to the Standard Bank Group, and a solid investment.