Event brings together UNIDO’s Promove Comércio, BCI and Mozambican SMEs

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Event brings together UNIDO’s Promove Comércio, BCI and Mozambican SMEs

8:08 CAT | 02 Oct 2023

Photo courtesy: UNIDO

Promove Comercio, a project implemented by the United Nations Industrial Development Organization (UNIDO), is pleased to announce a strategic partnership with the Bank for Trade and Investment (BCI) to promote innovative financing solutions aimed at boosting the growth of Small and Medium Enterprises (SMEs) in Mozambique.

On Friday (September 29), an important event was held in the meeting room of the United Nations Development Program (UNDP), with the aim of raising awareness among the SMEs participating in our project, including those located in Inhambane Province. The meeting aimed to present the crucial credit lines offered by the BCI and its partners, which are specially designed to benefit SMEs. The presentations will allow beneficiary companies to explore the possibility of applying for these lines of credit, provided they meet the necessary criteria.

BCI – Super offers a Credit Line (UNIDO) linked to our UNIDO project “Towards Sustainable Energy for All (TSE4all )” which promotes the dissemination of integrated renewable energy systems, in a market-based approach and for productive purposes in rural areas of Mozambique. The SASOL Credit Line is open to all economic agents in the various value chains, while FECOP (Portugal) is a line aimed at the agricultural sector, which offers competitive interest rates, including interest rates of less than 3% or even 5% in some cases, and is applicable at national level to all activities.

With this initiative, the Promove Comercio project aims to make financing more accessible for local and foreign trade companies. We work closely with companies that meet specific criteria and offer products with potential for local and export markets. We believe that the credit lines offered by BCI are in line with our project objectives and can significantly benefit our affiliated companies.

In addition, we actively promote B2B interactions between financial service providers and the companies we support, regularly organizing sessions to present financing solutions within the framework of our project. We see the credit lines offered by BCI and its partners as valuable opportunities for our SMEs to access much-needed financial support.

The TSE4all project with a strong bias towards the productive sector has the agricultural sector as one of the most important in the Mozambican economy. This sector faces serious challenges in accessing electricity and other forms of modern energy, and is often forced to resort to more expensive and less environmentally friendly options such as diesel, firewood and/or expensive coal to carry out its activities. Its approach is in line with the government’s strategies for improving access to basic services, increasing productivity in urban and rural areas and creating a favorable environment for attracting local and foreign investment.

The BCI Negócios SASOL Line of Credit is aimed at financing Micro, Small and Medium-sized Enterprises (MSMEs) operating in the province of Inhambane. This Credit Line is part of SASOL’s Local Content Plan and ensures preferential credit conditions for MSMEs without Treasury and Investment Support solutions, including the possibility of discounting SASOL invoices.

We are confident that this meeting will be an important milestone in the growth of SMEs in Mozambique.

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For more information on the Promove Comércio Project, please contact:

Patrícia Ramos da Costa

Communications & Visibility

+ 258 84 379 83 26

P:[email protected]

About Promove Comercio:

Promove Comercio is a project implemented by the United Nations Industrial Development Organization (UNIDO) that aims to support the growth and development of Mozambique’s Small and Medium Enterprises (SMEs), increase their competitiveness and facilitate access to the export market

Source: Promove Comércio / UNIDO