Industry brief: In December 2015, the Mozambican banking system total assets reached an increase of 18% (totaling MT 460 Billions) against MT 375 Billions of the same period in 2014, as the credit was the major contributor by making 51% of the total asset structure, despite its share being less than in the same period of 2014, 53% (Banco de Mocambique Annual Report 2015).
Competition in the financial sector has been increasing, having the bank agencies growing 11.11% % from 544 in 2014 to 612 in 2015 (Banco de Mocambique Annual Report 2015, KPMG Banking Survey 2016) and it is highly anticipated that the rankings will be very disputed in the long run, as it is evident that there is still a lot of work to be do on the expansion of the banking services throughout the country as the majority of the branches are concentrated in Maputo, Matola and big cities. In this line, Bayport Financial Services Mozambique is growing by expanding through unbanked regions of the country. Bayport should become a top 10 bank on Loan Book by end 2017.
Whatana's Goal: To build Bayport to become one of the top niche banks in the Market, as well as maximize financial participation in an investment in a strategic economic sector with significant potential for growth and to bring financial solutions to a large, unbanked Mozambican population (low–medium income).