Pro-Savana Fund to be set up in Nampula, Mozambique

12 September 2012

The Fund for the Pro-Savana Development Initiative is due to be set up Thursday in Nampula with an initial donation of US$750,000 (22 million meticals) from the Mozambican Agriculture Ministry and from the investment company Gapi – Sociedade de Investimento, Mozambican daily newspaper Notícias reported.

Pro-Savana is a programme intended drive agricultural and rural development in the Nacala Corridor, with the aim of improving the competitiveness of the sector in terms of food safety, increased productivity of small and medium-sized producers and production of agricultural surpluses that can be exported.

Pro-Savana covers one of the seven regions defined as priorities in the Strategic Plan for Development of the Agricultural Sector in Mozambique (PEDSA) and is supported by the governments of Japan, via the Japanese International cooperation Agency (JICA), and Brazil, via the Brazilian Cooperation Agency (ABC).

Gapi-SI is a financial development institution, run as a public-private partnership, which aims to “design and carry out programmes and projects that, in an integrated manner, encourage expansion, diversification and consolidation of national businesses and the Mozambican financial system.” (macauhub)