European Investment Bank supports Mozambique’s SMEs

21 March 2014

Mozambican bank Moza Banco and the European Investment Bank (EIB) Wednesday in Maputo signed a programme to support small and medium-sized enterprise (PME) in Mozambique with a financial package of 5 million euros, the Mozambican press reported.

Under the terms of the programme, Moza Banco will provide technical assistance to the PMEs and support them in developing their business plans.

The EIB representative for southern Africa, Carmelo Cocuzza, said that the bank was focused on supporting the private sector in Africa in general and in Mozambique in particular, as part of the existing partnership with the main local banks.

“Creating employment and growth of companies can only happen when small and medium-sized companies have capacity to invest,” noted Cocuzza cited by Mozambican news agency AIM.

The EIB started working in Mozambique in 1987 and since then has supported investments of over 500 million euros and is currently involved in several projects, including modernisation of Maputo International Airport. (macauhub)