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AMOMIF Now Has a Fund for Micro-Businesses

AMOMIF Now Has a Fund for Micro-Businesses

The Mozambican Association of Microfinance Operators (AMOMIF) now has a credit line to finance micro-businesses and strengthen the activities of its members. The achievement is the result of a cooperation agreement signed recently between the association and Gapi (Development Finance Institution – IFD) which, with the support of the Resilience Fund, financed by the United States Agency for International Development (USAID), created the Microfin-Resiliente credit line, O Económico news portal reported on Monday 27 May.

According to the site, the coordinator of the Resilience Fund, Nância Macaringue, emphasised the importance of ‘ensuring that the resources made available by USAID and Gapi’s shareholders are well managed. And good management means, above all, complying with the agreed standards, transparency in accountability and having a positive impact on the lives of families in rural areas of the country through the recovery and relaunch of micro and small businesses that generate jobs and improve the incomes of families in these locations.’

The cooperation agreement between Gapi and AMOMIF defines the credit line as a pilot project from which lessons will be learnt for the creation of a more comprehensive financing instrument that will allow the consolidation and expansion of the microfinance network throughout the country.

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