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Catalytic Fund for Innovation and Demonstration launched in Cabo Delgado
2:52 CAT | 08 Aug 2023
Photo: Conselho Executivo de Cabo Delgado
The 3rd Edition of the Catalytic Fund is a financing platform for private sector initiatives, with an approach of inclusive business connections, focused on improving access to markets for Small and Medium Enterprises through private investments and complementary public investments.
For its operationalization, a Grants Manual was approved which, as in previous editions, will guide the decision-making of the various bodies involved in the management of this Fund and provide them with the necessary operational guidelines to do so in an effective, efficient, transparent manner and in compliance with the respective policies and regulations.
After its launch in the Central Region, the Catalytic Fund for Innovation and Demonstration was launched this Monday in Pemba, in a ceremony led by the Governor of Cabo Delgado Valige Tauabo, who in his speech praised the Government’s initiative in contemplating the Province and the North Region in this financing line.
The President of the Executive Committee (PCE) of ADIN, the agency coordinating the project in the North Region, said that this 3rd Edition of the Catalytic Fund will be relatively faster, as it is taking place simultaneously with the 2nd Edition, and that some stages will be slightly shortened between them, the constitution of the Investment Committee and the hiring of individual consultants to assist in the elaboration of the Complete Proposals and in the elaboration of environmental instruments of the sub-projects.
Armindo Ngunga says that this fund is very important, especially for the Northern Region and Cabo Delgado, at a time when the province is in the process of reconstruction.
ADIN’s PCE also appealed to businessmen in small and medium-sized companies affected by terrorism to submit their candidacies and use this opportunity to reconstitute themselves.
The one-day event was attended by Representatives of the Executive Council of the Province of Nampula, Representative of the Executive Council of the Province of Niassa, Members of the Executive Council of the Province of Cabo Delgado, Presidents of the Provincial Business Councils of Cabo Delgado, Nampula and Niassa and Entrepreneurs.
The Catalytic Fund for Innovation and Demonstration is a financing platform for private sector initiatives, with an inclusive business linkages approach, focused on improving market access for micro, small and medium-sized enterprises through private and public investments.
Phase III of the Catalytic Fund for Innovation and Demonstration covers the provinces of northern Mozambique, namely Cabo Delgado, Nampula and Niassa, and a total of US$15 million is available.
Source: ADIN - Integrated Northern Development Agency / Conselho Executivo de Cabo Delgado
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