African Guarantee Fund finances SMEs in Mozambique

2 December 2014

Moza Banco and the African Guarantee Fund ( signed a contract in Maputo to guarantee up to US$2.5 million to finance small and medium-sized enterprises (SMEs), the Mozambican press reported.

The agreement, signed by Ibraimo Ibraimo, chief executive officer of Moza Banco and Felix Bikpo, chief executive of the African Guarantee Fund also provides for technical support to strengthen the financing capacity of SMEs in Mozambique.

Ibraimo said the funding line was part of the bank’s growth strategy involving becoming a universal bank retail in a position to serve all segments of Mozambican society, including micro, small and medium-sized companies. (macauhub/MZ)