■ In addition to our existing presence in five Southern African Development Community (SADC) countries, the agreement to acquire an initial stake of Mozambique – with the right to a majority shareholding over time – will strengthen our position in SADC and East Africa. Progress in nedbank Retail’s positioning ■ We gained 529 000 new clients, achieved higher cross-sell ratios, increased the number of our ATMs by 323 and our outlets by five, launched various innovative client value propositions and products, and continued proactive risk management while strengthening balance sheet provisioning (see the Supplementary Operational Review information for more details on Nedbank Retail).