Moza signs agreement for financing rural enterprises with Ministry of Agriculture and Rural Development
The Ministry of Agriculture and Rural Development through the International Fund for Agricultural Development (IFAD) and Moza Banco have just signed an Agreement for the Management of a Rural Enterprise Finance Project Fund (REFP) to September 2024.
This is a project whose objective is to contribute to the improvement of household livelihoods in rural areas, as well as to increase the availability of access and adaptive use - accessible, innovative and appropriate - of sustainable and inclusive financial services as well as technical support services.
To achieve the outlined objectives the project will be implemented through three technical components, with emphasis on the component of improved access to adaptable financial services for rural entrepreneurs, consisting of a Programme for Graduation, Innovation and Expansion Promotion, an Investment Mobilisation Fund and a Credit Line, all to be under Moza’s management.
Following the signing of the contract, Avelino Jeque, the Director of International Investment Banking at Moza Banco, assured Rigour, Transparency, Integrity and Ethics in the management of the funds received, “and prudential management in line with best practices, principles and values, underlying the way Moza Banco is and operates. It is our objective, as a Bank of and for Mozambicans, with a profound knowledge of the local reality, to play an active role in the country's development, collaborating with various entities, and in particular with the Mozambican Government at all levels to achieve this goal,” Jeque concluded.
Meanwhile, the coordinator of the Rural Venture Finance Project, Rufino Duvane, said that the signing of the contract with Moza Banco as the fund manager for the Rural Venture Finance Project (REFP), is a big step towards the materialisation of the project objectives, which will allow the achievement of the main goal which is the access to financial services by rural entrepreneurs, "therefore, we would like to congratulate the REFP team, the management of MADER and Moza Banco. We hope that in the short term the results of this agreement can be achieved with the conviction and the certainty that Moza Banco will know how to lead this to a successful outcome".
The representative of Moza Banco likewise congratulated the Government and other partners for their commitment and for their vision reflected by the strong investment in this component, that has already been presenting concrete and encouraging results, "we expect the Rural Enterprises Financing Project to be an irreversible gain in this area".