The President of the Mozambique Chamber of Commerce (CCM), Lucas Chachine, on Tuesday (2 June) called for the strengthening of financing instruments aimed at micro, small and medium-sized enterprises (SMEs), arguing that the development of this segment is crucial to accelerating economic growth, increasing job creation, and strengthening the role of domestic businesses in the economy.
Speaking during the 3rd edition of the Coffee Break B2B Leadership event, themed “Leadership that Transforms Ecosystems,” Chachine stated that Mozambique is facing a historic opportunity to boost the private sector. However, he warned that this goal requires better-prepared leaders, more capable companies, and financial mechanisms better adapted to the country’s business reality.
“The private sector is being called upon to play an increasingly strategic role in the development of the economy and our society,” he said.
According to him, SMEs must continue to receive special attention from the authorities, as they represent one of the main sources of employment and income.
“Issues relating to small and medium-sized enterprises, and not only in Mozambique, concern the sector that employs the most people. The Head of State and the Government have been working to ensure greater attention and support for SMEs,” he said.
Chachine highlighted existing instruments aimed at supporting domestic businesses, such as the Guarantee Fund and the planned Development Bank. However, he stressed that their existence alone does not solve the challenges faced by entrepreneurs.
“These and other instruments aim to empower micro, small and medium-sized enterprises. But it is not a simple process,” he noted.
He identified several structural obstacles limiting SME growth, including a shortage of qualified staff and difficulties in accessing bank financing.
“We know that SMEs face internal capacity problems, lack of skilled personnel, and shortages of material and financial resources. When they approach banks, the institutions usually have little appetite for this segment,” he said.
For Chachine, the solution goes beyond financing and must also include strengthening companies’ institutional and technical capacity.
“This is a matter for leadership. We must prepare SMEs so that they can successfully apply for funding,” he stressed.
He explained that many businesses still fail to meet the requirements set by financial institutions, which limits the effectiveness of existing support mechanisms.
“We created the Guarantee Fund, but we must ask why it is not achieving the desired success. Often the issue lies in the companies’ own capacity to meet lenders’ criteria,” he said.
In his view, the debate on SME financing should be part of a broader discussion on Mozambique’s economic development model.
“These are issues that deserve a serious debate about where we want to position ourselves as a country,” he argued.
Chachine also stated that developing economies like Mozambique cannot rely on organic growth alone, calling for more active policies to accelerate economic transformation.
“In conditions like ours, we must skip stages. We must accept that we need to accelerate processes,” he said.
He cited examples of developed economies that use support mechanisms for their businesses and productive sectors.
“Countries like Portugal and Spain receive significant funds from the European Union. The United States also implements protective policies in strategic sectors. We must also demand instruments that allow us to accelerate our development,” he said.
“More and more countries are turning inward. What is left for us is little. That is why we must believe in ourselves more and turn our potential into jobs, wealth and development,” he added.
Chachine also urged greater confidence in the country’s internal capacities and reduced dependence on external assistance.
“We will not spend our lives complaining. We have gas, land, and the sea, yet nothing happens. But no one will do it for us,” he said.
According to him, the current global context shows that countries are increasingly focused on their own economic interests, requiring Mozambique to adopt a more proactive stance.
“More and more countries are turning inward. What is left for us is little. That is why we must believe in ourselves more and turn our potential into jobs, wealth and development,” he reiterated.
The CCM president also revealed that, after recently assuming leadership of the Chamber of Commerce, he held several meetings with international partners and concluded that Mozambique must rely more on mobilising its own resources.
“My conclusion is that we must turn to ourselves. We have the capacity, if we unite, to harness our country’s wealth and finance infrastructure, schools and the projects we want,” he said.
He reaffirmed the Chamber of Commerce of Mozambique’s readiness to support initiatives that promote the development of the national business community and strengthen dialogue between the private sector and policymakers.
“We are ready to support these ideas and work together to influence leadership, showing that we are prepared to contribute to the country’s growth and to ensuring that our children are proud of what we are building,” he concluded.
The 3rd edition of the Coffee Break B2B Leadership event brought together business leaders, managers, consultants, academics, representatives of public and private institutions, and professionals from various sectors.
Text: Felisberto Ruco
