Chamber of Commerce proposes that land titles be used as guarantee to access bank credit | Mozambique

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Chamber of Commerce proposes that land titles be used as guarantee to access bank credit | Mozambique

2:09 CAT | 29 Jul 2022

Screen grab: Câmara de Comércio de Moçambique on Facebook

The Chamber of Commerce of Mozambique (CCM) is proposing that the Mozambican state allow those who have been granted a land use title (DUAT) to use it as surety for bank credit or as a counterpart in agreements and partnerships with entities intending to establish business in Mozambique.

The proposal was put forward by the Secretary General of the Chamber of Commerce of Mozambique, Teresa Muende, on the sidelines of a debate on the Public Consultation of the Draft of the National Land Policy held in Maputo this Wednesday.

“This is not to suggest that the state’s constitutional ownership of land is called into question. We are suggesting that national citizens, upon receiving the DUAT, also be granted the prerogative to use it as a guarantee to establish agreements and partnerships, making the DUAT in their possession as a counterpart of economic value,” said Muende.

Muende said this public consultation was expected to result in important subsidies that will be considered to enrich the Draft of the National Land Policy, specifically with regard to the vision of the business sector as the main maker of the national economy and, in particular, of those who have the DUAT as the main vector for their business.

“We believe that land, as a public good and property of the Mozambican state, must be clearly governed and managed as an important vector that boosts wealth for all and one of the ways to ensure that the benefits of Mozambicans are effective and contribute to development, both economic and social,” said Muende.

By Marta Alfonso

Source: Carta de Moçambique