The Northern Integrated Development Agency (ADIN)) is implementing the fifth edition of the Business Recovery Fund (FdRE) under the Economic Linkages for Diversification Project (Conecta Negócios), funded by the World Bank. The initiative aims to support Micro, Small and Medium Enterprises (MSMEs) affected by natural phenomena and other events that have negatively impacted the economic and labour environment in the northern region of the country.
Following a technical evaluation process and review by the Investment Committee, ADIN selected 72 companies from the provinces of Cabo Delgado and Nampula to benefit from the financial support provided by this edition of the fund.
In Nampula province, ADIN assessed 75 applications, of which 44 MSMEs were approved for funding, with amounts ranging between one and three million meticais, intended for the recovery, expansion, and consolidation of their businesses.
To publicly announce the results of the initiative, ADIN held the first Grant Award Ceremony on Monday in the city of Nampula, led by the Minister of Planning and Development, Salim Valá.
Photo: ADIN – Agência de Desenvolvimento Integrado do Norte
The event also featured the presence of the Secretary of State in Nampula Province, Plácido Nerino Pereira, the Provincial Governor, Eduardo Abdula, the Chairman of the Municipal Council of Nampula City, Luís Giquira, as well as representatives from the Confederation of Economic Associations of Mozambique (CTA ) and other segments of society.
Photo: ADIN – Agência de Desenvolvimento Integrado do Norte
On the occasion, Minister Salim Valá reiterated the Government of Mozambique’s commitment to the business sector, stating that the Business Recovery Fund represents an opportunity to strengthen companies’ productive capacity and ensure the continuity of their activities.
Minister Valá also emphasised the importance of using the allocated resources strategically, responsibly, and with a focus on results.
Photo: ADIN – Agência de Desenvolvimento Integrado do Norte
For his part, Jacinto Loureiro, Chairman of the Executive Commission of ADIN, urged entrepreneurs to use the granted funds prudently, expressing hope that the support will contribute to business consolidation and the creation of more employment opportunities in the northern region.
He also emphasised the commitment of the entities involved in implementing the initiative.
Photo: ADIN – Agência de Desenvolvimento Integrado do Norte
Source: ADIN – Agência de Desenvolvimento Integrado do Norte / Press Release