Cabo Delgado Business Council calls for reduction of bureaucracy in equivalent grants line

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Cabo Delgado Business Council calls for reduction of bureaucracy in equivalent grants line

2:50 CAT | 06 Jun 2022

Photo: Gabinete de Reconstrução Pós-Ciclones - GREPOC

The Cabo Delgado Business Council last week said the Post-Cyclone Reconstruction Office (GREPOC) needed to reduce the bureaucracy involved in accessing the US$15 million allocated by the government in form of co-funded donations to the private sector affected by cyclones Idai and Kenneth in seven provinces in the country.

The wish was expressed in Pemba by CEP President Mamudo Iraje during the launch on Wednesday (June 1 2022) of a program of equivalent grants to the private sector , implemented by the government with funds from the World Bank and aimed at the recovery of economic activities.

GREPOC director Luís Mandlate announced during the ceremony that the government had US$15 million available to support 600 micro, small and medium-sized companies affected by cyclones Idai and Kenneth in the provinces of Cabo Delgado, Nampula, Tete, Zambézia, Manica, Sofala and Inhambane.

As explained by the consortium of companies contracted by GREPOC to assist entrepreneurs in drawing up business plans to access the funds, micro and small companies could benefit from grants of up to one million meticais, with 15% co-participation. Medium-sized companies were eligible for amounts of up to three million meticais, but have to contribute 30% of the amount.

The ceremony was led by the Secretary of State for Cabo Delgado province, António Supeia and witnessed by Cabo Delgado’s Governor Valige Tauabo and various businesspeople.

On the occasion, Supeia said that the line of equivalent grants would respond to the concerns that the province faces, with a view to mitigating extreme natural events.

“We recommend the private sector to welcome, appropriate and access this unique opportunity,” he urged.

The grant program lasts for 36 months, from December, 2021.