World Bank lowers Mozambique's growth forecast to 3%
Image: in file CoM
Mozambique’s Integrated Northern Development Agency (ADIN), in partnership with the Institute to Promote Small and Medium Companies (IPEME), plan to foster a wide range of projects to boost self-employment, investment and social and economic development for communities in the northern provinces.
To this end, the two institutions signed on Monday in Maputo a Memorandum of Understanding (MoU) which will facilitate cooperation and collaboration in service delivery as well as the promotion and development of micro, small and medium companies in northern Mozambique.
The Chairperson of the ADIN Board, Armindo Ngunga, said the initiative is intended to promote basic services and reduce unemployment among the over 850,000 people, displaced by terror attacks in the northern part of Cabo Delgado province since October 2017.
“We want to see a substantial number of the displaced people with skills to conceive projects and with capacity to jointly mobilise resources to carry out business development activities,” Ngunga said, adding that students, entrepreneurs and other social groups will also be trained on drawing up projects and business plans, as well as other paperwork needed to access finance.
IPEME Managing Director, Joaquina Gumeta, declared that the institution will fully implement the projects which will consequently boost income generation and translate into communities’ social and economic development through the micro, small and medium companies, but also integrate big economic projects to improve the livelihoods of the people.
“Through the memorandum, we have launched the basis for the implementation of structural projects that will henceforth promote income generating initiatives, employment and investment for the social and economic development of the communities,” Gumeta stressed.
ADIN also signed an MoU with the Japanese company AgroBusiness for Mozambican Development (ADM) through which the two sides will strengthen cooperation in several fields such as education, health and the environment.
ADM will develop a project branded “Smart Small Communities” to be implemented along the Nacala Corridor which will target over 100 communities.
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