Mozambican President Daniel Chapo has announced that six commercial banks have signed agreements to provide loans to small and medium-sized enterprises (SMEs) under the Mutual Guarantee Fund.
The fund, now valued at 120 million US dollars, is designed to facilitate access to credit for businesses that lack sufficient assets to secure bank loans. With support from the World Bank, the government provides guarantees to banks and assumes part of the risk if beneficiary businesses default on their repayments.
“We are talking about a fund that now stands at 120 million US dollars. We stress the importance of expanding financing opportunities for businesses led by women, which often face obstacles in accessing bank credit”, he said.
Chapo said that his government was also reviewing legal instruments to facilitate the participation of domestic businesses, particularly those led by women, in the supply chains of major investment projects.
He cited opportunities in the energy, extractive industries, agriculture, tourism and digital economy sectors, arguing that women-led businesses should have access not only to small-scale activities but also to contracts linked to large investments.
The President also highlighted the Local Economic Development Fund (FDEL), which provides financing at district level, and the Women’s Economic Empowerment Fund (Pro-Mulher), established to support economic initiatives led by women.
According to Chapo, women account for between 70 and 80 per cent of those who have started repaying funds received through FDEL.
He also argued that financing women-led businesses benefits both households and the national economy, calling for mechanisms that facilitate access to credit and increase women’s participation in the country’s main economic sectors.
Source: AIM