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Novobanco
With ProCredit, we are currently looking at three countries inwhich to
establish an adoption scheme for a branch of NovoBanco. These countries
are Mozambique, Congo and Angola.
With your help more branches will be established to fulfill the mission
of giving access to proper financial services to micro, small and medium
sized enterprises.
Novobanco Chimoio
The first bank branch you can help adopt is a new branch in Chimoio, Mozambique.
This branch was opened on November 19th, 2004. With your sponsorship you
will support the further establishing of this bank branch and thus give
many micro and small entrepreneur the opportunity to grow and expand their
businesses.
NovoBanco Mozambique has been established in 2000 by several multilateral
and bilateral institutions in order to provide reliable financial
services specifically tailored to its target group, the micro, small
and medium enterprises of Mozambique.
All of the shareholders are committed to the goal of developing NovoBanco
into a full fledged commercial bank. In August 2004 the bank had a portfolio
of 10,750 outstanding loans. These loans are typically quite small,
300-400 EUROS on average however this is usually enough to provide locals
the chance to develop their own small business.
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