African Development Bank, Italian Technical Cooperation Fund inject €990 000 into Mozambican agriculture

 African Development Bank, Italian Technical Cooperation Fund inject €990 000 into Mozambican agriculture

African Development Bank, Italian Technical Cooperation Fund inject €990 000 into Mozambican agriculture.

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MAPUTO, Mozambique – The African Development Bank (www.AfDB.org), with financing from the Italian Technical Cooperation Fund, has provided a €990 000 grant to help smaller agro-processing enterprises boost production and quality control.

The project will enable the businesses to better tap into national and regional markets and capitalise on the opportunities created by the African Continental Free Trade Area (AfCTA). The Confederation of Business Associations of Mozambique is the implementing agency.

“We are pleased to receive this grant from the AfDB and the Italian Technical Cooperation Fund, which will benefit about 300 agro-processing and agribusiness small and medium-sized enterprises (SME) associations in Mozambique, particularly youth and women-led SMEs operating along the development corridors of Nacala-Beira-Pemba-Lichinga,” Agostinho Vuma, the president of the Confederation of Business Associations of Mozambique told guests during the grant handover ceremony.

“The grant is apt to further step up the intense bilateral relations in the agriculture area built through the many projects financed by the Italian cooperation and that it can act as a catalyst to extend it to the private sector where it exists a huge and largely untapped potential,” underlined the Italian Ambassador Gianni Bardini.

AfDB country manager Pietro Toigo noted that the grant would provide critical support to Mozambique, especially amid the socioeconomic challenges posed by the Covid-19 pandemic.

“We are pleased to partner with the CTA and the Government of Italy to support Mozambican SMEs recover from the COVID pandemic and scale up their competitiveness, as part of the African Development Bank’s commitment to help Industrialise Africa and Mozambique,” he said.

The project supports the goals of Mozambique’s Country Strategy Paper (2018-2022), which focuses on two strategic pillars: infrastructure investments that enable transformative inclusive growth and job creation, and agricultural transformation and value chain development.

The Industry and Trade minister, Carlos Alberto Fortes Mesquita, highlighted the importance of such initiatives and their catalytical role in promoting Mozambique’s agriculture modernization and the industrialisation of critical sectors of the economy.

Recently, the AfDB approved a $1 million grant to boost local content and the development of initiatives of small and medium enterprises.

Silence Charumbira

Silence Charumbira is a journalist based in Maseru, Lesotho. He has vast experience having trained and worked in Harare for both state-owned and private media. He freelances for several international and regional papers among them The Guardian. View reputable reputation at The Guardian. He has interests in climate change reporting as well as illicit financial flows reporting with a thrust on how these phenomena affect people’s daily lives. He loves traveling, photography, reading, and writing.

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