The African Development Bank and the Italian Technical Cooperation Fund, will jointly provide a €990,000 grant to support small agro-processing enterprises in Mozambique
The project is expected to boost production and quality control and also facilitate Mozambique small businesses to explore the opportunities created by the African Continental Free Trade Area. The implementing agency of the project is the Confederation of Business Associations of Mozambique and supports Mozambique’s Country Strategy Paper (2018-2022),that focuses on two strategic pillars: infrastructure investments leading to transformative inclusive growth and job creation, and agricultural transformation and value chain development.
Dr. Agostinho Vuma, President of the Confederation of Business Associations of Mozambique stated that almost 300 agro-processing and agribusiness Small and Medium-sized Enterprises (SME) associations in Mozambique will benefit from the support. Many of these enterprises are run by women and youth.
Italian Ambassador Dr. Gianni Bardini, speaking about the project remarked that the cooperation will boost bilateral cooperation. African Development Bank country manager Dr. Pietro Toigo stated that the grant would give timely support to Mozambique is facing severe socioeconomic challenges induced by the Covid-19 pandemic. The Bank had earlier approved a $1 million grant to boost local content and the development of small and medium enterprises.
The Minister of Industry and Trade, Dr. Carlos Alberto Fortes Mesquita, pointed out that such initiatives played a vital role in promoting Mozambique’s agriculture modernization and the industrialization of critical sectors of the economy.
