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US$ 25 Million Provided to Finance Mozambican SMEs Through Khalifa Fund

US$ 25 Million Provided to Finance Mozambican SMEs Through Khalifa Fund

Mozambique and the United Arab Emirates (UAE) signed an agreement to facilitate doing business and training Mozambicans in that Arab country, in one of the meetings that the President of the Republic, Filipe Nyusi, held with government authorities and the private sector. A commitment was also established to accelerate investments in agriculture, renewable energy, infrastructure and the airport sector.

One of the agreements reached provides for an investment of about 25 million dollars from the Khalifa Fund to finance Small and Medium Enterprises (SMEs) in Mozambique, especially those led by women and young people.

Without giving too many details, Filipe Nyusi pointed out that an investment will also be made in agro-livestock and agro-processing, and revealed the interest of airlines from Dubai in investing in Mozambique.

During his stay in the UAE, Filipe Nyusi visited the Dubai port operated by DP World, one of the concessionaires of the port of Maputo, which over the past five years has invested more than $ 700 million in the modernization and expansion of that airport infrastructure.

Nyusi learned about the technological innovation that is being applied in the port of Dubai for management and handling of containers and the operational model of the infrastructure. This model allows the entire action of the port of Dubai to represent 33% of the GDP of that country.

The Arabs want to implement the same philosophy at the Port of Maputo and Nacala, and for this reason, as reported in the newspaper O País, they requested not only an extension of the Maputo port concession for another ten years, but also the Nacala port concession.

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In the next three years they plan to invest 340 million dollars in the Port of Maputo alone. With these investments, it is believed that the port of Maputo will be in a position to become the main logistical point of the Southern African Development Community (SADC), boosted by direct shipping lines between Dubai, India, Mombasa and Maputo.

At this moment, there is already a line in operation, which guarantees the maritime connection between Dubai and Maputo in just 11 days, and which has already begun to have adhesion of customers from South Africa, Zimbabwe, Essuatini and Botswana, with the aim of attracting most of the traffic from these countries that currently use the port of Durban in South Africa.

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