Mozambican President Daniel Chapo announced the launch of a $40 million fund for small businesses.
The announcement was made at the 60th Maputo International Trade Fair (FACIM) in Gaza province, which hosted more than 3,000 participants from 30 countries.
At the opening ceremony of the seven-day event, President Chapo focused on creating a favorable environment for foreign investors and emphasized the importance of building an inclusive and sustainable local economy:
“Mozambique has a geostrategic location with ports, development corridors, and various other potentials; it has abundant resources—mineral, natural, agricultural, and tourist—and above all, a humble, hardworking, friendly, and welcoming people,” he said.
ECONOMIC INDEPENDENCE AND THE PURPOSE OF THE FUND
He also stressed that economic independence in the domestic market must be achieved together with agricultural workers, farmers, youth, and women. This is precisely why the fund was established.
Mozambique has arable land, abundant water resources, energy, mineral resources, and natural gas reserves. However, the country’s Gross Domestic Product (GDP) growth for 2025 is projected to be limited to 3%.
The main reason for this limited growth is attributed to the billion-dollar “hidden debt” corruption scandal.
Additionally, post-2024 election protests and the ongoing armed rebellion in the northern Cabo Delgado province are highlighted as key factors slowing down the country’s economic development.