“Pró Empresa Jovem” programme to encourage young entrepreneurs launched in Mozambique

16 February 2011

Maputo, Mozambique, 16 Feb – Over 4,500 companies are expected to be set up in Mozambique over the next five years, as part of a government initiative in partnership with the business sector, according to Mozambican newspaper Notícias.

The pilot phase of the programme, presented last week in Maputo by state shareholdings management company, Igepe, is due to be implemented before the end of March, covering young people in the cities of Maputo and Matola.

With an estimated cost of US$14 million, funded by state-owned, public and private companies as well as international cooperation partners, the “Pró Empresa Jovem” programme is expected to create at least 30,000 official jobs.

The chairman of Igepe, Hipólito Hamela, said that Mozambican companies would contribute to setting up the fund with at least US$2 million, and the other US$12 million would be secured from international partners, which had already shown interest in contributing to the programme.

In fact, some state-owned companies have already started giving their contribution to this initiative as a way of ensuring the US$500,000 needed to launch the process. The programme aims to change the current situation in which some national development initiatives are led by international organisations or non-governmental organisations. (macauhub)