Support planned for agricultural companies in Mozambique’s Beira corridor

14 February 2012

Beira, Mozambique, 14 Feb – The Beira Agricultural Growth Corridor (BAGC) is accepting investment proposals for the agricultural sector in that region of Mozambique for later submission to the Catalytic Fund, reports Mozambique’s AIM news agency.

The BAGC is a partnership between governments, private investors, donor agencies and regional organisations whose aim is to promote increased agricultural productivity in Mozambique and the southern region of Africa. The Catalytic Fund is financed by various countries and international organisations; it is managed by the non-profit project development company AgDevCo and backed by foundations and international development agencies.

AIM reports that companies from Sofala, Manica and Tete whose projects are approved will earn the right to financing varying from US$50,000 to 500,000, with the investment qualification depending on assessment of the respective business plan.

Applicants must prove that they can successfully manage and implement projects on the ground, and also show that the business will be able to pay back the investment to the Catalytic Fund within five years. (macauhub)