Mozambique: AfDB disburses a million dollars for small and medium enterprises – AIM

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Mozambique: AfDB disburses a million dollars for small and medium enterprises – AIM

4:04 CAT | 24 Aug 2022

Photo: IPEME

The African Development Bank (AfDB) has disbursed one million US dollars to improve the competitive capacity of Mozambican small and medium enterprises run by young people and women, in the initial stage of business.

The project, to be implemented in the northern province of Cabo Delgado and in Maputo City, will focus on tourism, manufacturing, agriculture, information technology, health, and transport.

The goal, according to the deputy director-general of the Institute for the Promotion of Small and Medium Enterprises (IPEME), Luís Machava, is to reach about 100 small and medium enterprises, in terms of technical assistance, capacity building and preparation of “dossiers.”

According to Machava, the expectation is that the three-year project will boost local entrepreneurship and foster balanced and inclusive development of the communities.

“This is a project financed by the ADB to the tune of one million dollars. It is expected that the project will contribute to improving the living conditions of the population, and to increasing employability, productivity, and competitiveness of small and medium enterprises”, said Machava, on Tuesday, in Maputo, during a workshop on the local content development project, for young people and women (MOZYWEB Startup).

The event aimed at facilitating the establishment of initiatives of young people and women with large companies, in order to take advantage of the opportunities emerging from the major hydrocarbon projects, in the Rovuma basin, off the Cabo Delgado coast.

The project will also provide technical assistance and support to the entrepreneurs and the companies in focus to ensure the achievement of standards required in the provision of services to hydrocarbon projects.

The project, Machava said, envisages certification in quality management for 25 companies to take advantage of the opportunities offered by the domestic market and contribute to the internationalization of this segment.

For his part, the chairperson of the Association of Small and Medium Enterprises, Feito Tudo Male, promised to strengthen actions, in order to achieve the desired objectives.

“We want to commit to do everything possible in the implementation of the project in the provinces covered”, he said.

The project will be implemented in partnership with the mobile phone company, Vodacom Mozambique, the soft drinks company Coca-cola Mozambique, the publicly-owned electricity company EDM, and ABSA Bank.

Source: AIM