Mozambique will require that companies register their owners, to combat money laundering
Photo: MOPHRH
The Mozambican government is providing a credit line of around 960 million meticais to aid in the recovery of small and medium enterprises (SMEs) affected by cyclones Idai and Kenneth in the centre and north of the country.
Speaking at the launch of the fund in the city of Beira this Friday, Deputy Minister of Public Works, Housing and Water Resources Cecilia Chamutota said that, in order to benefit from the financing, companies must present sustainable projects, aimed at creating jobs.
Cecília Chamutota demanded transparency in the selection of initiative beneficiaries.
“Our objective as a government is for this support to have a multiplier effect on the economy and society in which the companies operate. Therefore, clear criteria for selecting the beneficiaries of this line of grants have been defined,” she said.
For the selection of beneficiaries of the credit line, the magnitude of the damage suffered and the socio-economic vulnerability of the proponents are also taken into account.
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