Moza Banco has argued that financing for Micro, Small and Medium Enterprises (MSMEs) in Mozambique should be approached in a personalised way, taking into account the specificities of each entrepreneur. The position was expressed by Moza Banco’s Director of Management Information, Camilo Amarcy, during the Conference on the We Finance Code for Women Entrepreneurs, held this Tuesday (3) in Maputo.
On the occasion, Camilo Amarcy defended ‘the need to take a contextualised look at the challenges faced by entrepreneurs in the country, as a way of ensuring greater assertiveness when drawing up support strategies for national Micro, Small and Medium-sized Enterprises (MSMEs).’
The conference, promoted by the World Bank and organised in partnership with Financial Sector Deepening Mozambique (FSDMoç), brought together various entities from the financial sector to discuss solutions for data disaggregation and its importance in access to finance. The We Finance Code, which is to be implemented in around 30 countries, including Mozambique, aims to facilitate access to credit for MSMEs led by women.
Asked about the importance of segmenting data to expand financing opportunities for MSMEs, Camilo Amarcy emphasised that ‘disaggregated data can help financial institutions and support entities identify which entrepreneurs need more support and which mechanisms can be most effective for each profile. However, before using only disaggregated data, it is important to understand the context of each entrepreneur. An entrepreneur in Niassa may have very different challenges from an entrepreneur in Maputo.’
Several entities from the financial sector signed an agreement formalising their commitment to supporting women entrepreneurs
For Amarcy, one of the key steps to improving the segmentation of financing is to take advantage of existing data sources. ‘We could first exploit publicly available data, such as population censuses and analyses from the National Statistics Institute, the World Bank and other sources, to build a more accurate segmentation model,’ she added.
At the meeting, several entities from the financial sector signed an agreement formalising their commitment to supporting women entrepreneurs, recognising the fundamental role they play in the country’s economic development. Moza Banco, which already implements initiatives for this segment, highlighted Moza Women, a project launched last year, which aims to support businesses led by women and facilitate access to financing suited to their needs.
The institution reaffirmed its commitment to financial inclusion and strengthening the role of women in the Mozambican business sector. ‘The Bank recognises the role of women in Mozambique’s economic development at all levels and is therefore committed to creating diverse solutions that help ensure that women are always at the forefront of Mozambique’s economic growth.’
This year, the institution intends to strengthen its support for women entrepreneurs by developing specific financial products. ‘This year, the Bank has the ambition to create specific products that meet the needs of women, in the light of the same project.’
Moza Banco stressed that with a more personalised approach, it will be possible to boost the growth of MSMEs and contribute to more inclusive economic development in the country.
