Maputo, 23 Feb (AIM) – The Mozambican government has launched, in the northern province of Niassa, a line of subsidies as part of “Conecta Negócios” project, which is aimed at strengthening access to productive capital for small and medium-sized enterprises (SMEs) in areas with lower business density and weak access to productive capital
This project, which is coordinated by the Ministry of Finance and the Northern Integrated Development Agency (ADIN) , is budgeted at 130 million meticais (about two million US dollars at the current exchange rate) disbursed by the World Bank.
According to Salim Valá, Minister of Planning and Development, speaking during the project launch, the programme is aligned with the National Development Strategy 2025–2044 and places the national private business sector at the center of economic transformation.
“Today we are taking a concrete step in implementing a development model that prioritizes strong, resilient, and innovative micro and small enterprises. The economic transformation of our country is not built solely on large projects, but above all on national companies capable of taking risks responsibly”, he said.
The grants are integrated into the Catalytic Fund for Innovation and Demonstration, an economic policy instrument funded by the World Bank and designed to stimulate private investment. The adopted model provides for co-financed grants, which can finance up to 90 per cent of eligible investment, while beneficiary companies ensure a minimum contribution of 10 per cent in equity.
According to the minister, the northern provinces of Niassa and Cabo Delgado have high productive potential since they have extensive areas of arable land, as well as “forestry, mineral, fishing and tourism resources.”
The central objective is to generate a multiplier effect on the local economy, activate value chains, and encourage the addition of value to local production. It also aims to stimulate business formalization, create direct and indirect employment, and reduce regional inequalities”, he said.
For his turn, Pedro Paulino, the Conecta Negócios project coordinator, said that with these grants micro-enterprises will be able to access amounts of between 15,000 and 25,000 dollars, while small businesses will be able to benefit from financing of between 15,000 and 50,000 dollars, depending on the nature and size of the proposed investment.
“It is expected that this initiative will contribute significantly to strengthening local business, creating and maintaining jobs, and boosting the productive value chain in Niassa and Cabo Delgado”, he said.
(AIM)
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