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Zambezi Valley Development Agency Disburses $100M for SMEs

Zambezi Valley Development Agency Disburses $100M for SMEs

The Zambezi Valley Development Agency (AdZ), has available a funding portfolio of about 100 million dollars to support Small and Medium Enterprises (SMEs).

The funding for the private sector was unveiled on Tuesday (27), in Maputo, and aims to ensure technical assistance to SMEs and prevent them from having difficulties with suppliers of parts and equipment, as well as funding actions to modernise their production capacity.

“Currently, our funding portfolio is around US$100 million just for SMEs, of which 35 percent is the Zambezi Agency’s own funds,” said the managing director of AdZ, Roberto Albino, quoted by Mozambique’s Information Agency (AIM).

Albino explained that “if everything goes according to plan, around 25 new factories will be set up in the next 18 months in several agri-industrial areas, under a financing in kind called AGRIVAl.

The official made it known that, over the last five years, AdZ has mobilised resources that, in turn, have enabled 31 SMEs in the industrial area to be financed.

The source advanced that in less than a month the third generation of the catalytic fund will be launched, budgeted at around US$18 million.

“Our idea, with this financing mechanism through the catalytic fund, is to ensure that companies receive money through a public tender, where the private sector is part of it, and the investment committee is the one that ultimately decides which SME will be financed,” the source concluded.

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