Mozambique: Minister wants more international funding for private enterprises

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Mozambique: Minister wants more international funding for private enterprises

5:07 CAT | 11 Oct 2022

File photo: Lusa

Mozambique’s minister of economy and finance, Max Tonela, speaking in Washington on Monday, called for support for the country’s private sector from the African Export-Import Bank (Afreximbank), noting the financial constraints facing the business community.

“We would like the support to be focused on the development of micro, small and medium-sized enterprises, as part of the country’s economic recovery effort,” Tonela said, quoted in a statement sent to Lusa.

The minister was speaking during a meeting with Denys Denya, Afreximbank Executive Vice President for Finance, Administration and Banking Services as part of the annual meetings of the World Bank and International Monetary Fund, taking place this week in the US capital.

Tonela stressed that micro, small and medium-sized companies in Mozambique needed financial strength in order to take advantage of the country’s economic potential.

The government, he said, was focusing on private sector participation in taking advantage of the value chain in the hydrocarbon sector and other economic areas.

Another area in which the involvement of Afreximbank – an institution linked to the African Development Bank (AfDB) – could be important is infrastructure, energy and agriculture, Tonela added.

READ: IMF-World Bank Annual Meetings: Mozambican delegation heads to Washington

Happy to moderate this session on #DisasterRiskReduction next Wed w/ @Alison_IEG, @DrAndrewSteer, Ernesto Max Tonela from Mozambique, @AnneBeathe_ , Bernice van Bronkhorst from @WBG_Cities & Kentaro Ogata from @MOF_Japan.
If you’re registered with the #AnnualMeetings, join us! pic.twitter.com/KuarbYo1Ks

— Carmen Nonay (@CarmenNonay) October 10, 2022