World Bank supports Mozambican chocolate producer

13 June 2007

Maputo, Mozambique, 13 June – The International Finance Corporation, an organ of the World Bank for financing the private sector, has said it will grant support of US$360,000 to Mozambican chocolate producer Déjà Vu Chocolate e Cafés.

Under the terms of the agreement signed Tuesday by the manager of Deja Vu, Milton Vellios, and by the director of the Corporation for Angola and Mozambique, Tunde Onitiri, US$280,000 are an injection of venture capital and the remaining US$80,000 will pay consulting services for accounting systems and procedures, market surveys and production support.

According to Vellios, this agreements with the IFC will allow the company to increase its production more than three-fold, from a current 13 tons per year to 44 tons.

“We currently produce chocolate for sale in the markets of Maputo, Beira and Nampula,” Vellios said, adding that this financing would allow the company to reach the entire country and, later perhaps to export production.

This funding for Deja Vu, which is a family company set up in 2002, is part of a program to support small and medium-sized companies in Mozambique, also supported by the governments of Switzerland and Finland. (macauhub)