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Mozambique: US$20 million for post-cyclones business recovery in H1 2021 – Carta
5:09 CAT | 17 Dec 2020
Photo: TVM
The President of the Republic, Filipe Nyusi, this Wednesday guaranteed that his government would, in the first half of next year, make available US$20 million in credit lines to support post-cyclone business recovery.
Speaking from the podium of the Assembly of the Republic, where he presented his Annual Report on the General State of the Nation, President Nyusi said that the post-cyclone recovery of the economic and social fabric is being slowed by delays in the disbursement of support by cooperation partners.
During the first six months of 2021, the head of state said, the companies affected will have access to credit lines worth US$20 million (close to 1.5 billion Meticais) to rebuild their businesses.
Data collected and published by the Confederation of Economic Associations of Mozambique (CTA) in May 2019 indicate that small and medium enterprises suffered most from the cyclones, and therefore needed most support to resume their activities and minimise the losses caused by the shock.
In terms of numbers of businesses affected, the CTA numbered 700 companies affected by Cyclone Idai in the centre of the country, mainly Sofala province, and 70 companies hit by Cyclone Kenneth in the northern zone.
By Evaristo Chilingue
Source: Carta de Moçambique
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