China’s financing of public works in Mozambique exceeds US$2.28 billion
O País / CTA's president Agostinho Vuma (L) and Claire Zimba, director general of IPEME signed the MoU on Monday, December 11 2017
The Confederation of Economic Associations of Mozambique (CTA), the main employers’ association in the country, and the Institute for the Promotion of Small and Medium Enterprises (IPEME), have announced on Monday that they are to carry out joint actions to promote competitiveness.
The three-year memorandum of understanding covers seven areas: agribusiness, infrastructure, institutional capacity building, renewable energy, finance, tourism and business missions.
As an example of the actions to be developed, the agreement stipulates that small and medium industrial enterprises will benefit from Management and Production Technology (TGP) 2017-2020 project assistance to stimulate efficiency and competitiveness.
Manuals to support Mozambican companies participating in tenders to supply foreign companies in the country, such as those related to the exploitation of natural resources, are also being prepared, in a programme supported by the World Bank.
Claire Zimba, director general of IPEME, says she expected that the general status of small and medium-sized enterprises (SMEs) will be reviewed in 2018, giving it greater importance.
CTA president Agostinho Vuma believes that SMEs are vital for wealth creation, but at the level of benefits and incentives, “it is SMEs that face the greatest difficulties, especially in access to finance”. The Bank of Mozambique’s prime rate is currently 27.25 percent.Source: Lusa