President Daniel Chapo highlighted Gapi-SI’s crucial role in Mozambique’s socioeconomic development during its 35th anniversary. He emphasized the need for financial inclusion and youth entrepreneurship, noting significant loan disbursements and job creation. Chapo reaffirmed the government’s commitment to fostering economic growth and addressing inequalities.
Daniel Chapo, the President of Mozambique, emphasized the significance of Gapi-SI during its 35th anniversary celebration in Maputo. He acknowledged the investment company’s critical role in advancing financial inclusion, supporting small businesses, and creating job opportunities, specifically for the youth. Chapo stated, “This is a special moment, because as we celebrate Gapi’s 35th anniversary, we reinforce our commitment to creating more employment opportunities, especially for young people, an essential objective of our government program.”
Founded in 1989, Gapi has emerged as a pivotal agent for socio-economic development. Chapo revealed that from 2020 to 2024, Gapi disbursed 1.4 billion meticais in loans, benefiting over 2,600 micro, small, and medium-sized enterprises and generating nearly 8,800 jobs. This impact underscores the necessity of continual investment in initiatives that foster sustainable growth and improve access to credit.
The celebration also spotlighted the collaboration between Gapi and the government in securing international resources for strategic sectors. Chapo highlighted a notable achievement in 2000 when donations from the African Development Fund revitalized the cashew industry. He also referenced the mobilization of funds from the World Bank between 2002 and 2004, which aided approximately 12,000 workers affected by restructuring in the public company Caminhos-de-Ferro de Moçambique.
Chapo addressed the creation of the Economic Reconstruction Fund and Mutual Guarantee Fund, both designed to enhance credit access and mitigate financial risks for small enterprises. He noted that 83 percent of the country’s states host bank branches, while 92 percent have electronic currency agents, demonstrating substantial progress in financial inclusion.
A highlight of the event was the INCUBOX initiative, a project supported by the European Union and designed by Gapi technicians. This initiative seeks to bolster youth entrepreneurship in Niassa, Cabo Delgado, and Nampula through mobile containers that serve as business incubators, providing training, technical assistance, and financing. Chapo remarked, “Young entrepreneurship needs support and real opportunities. We need to join forces between the government, companies, and educational institutions to ensure that young people have access to the job market and can develop their own initiatives.”
In conclusion, Chapo reiterated the government’s commitment to projects that strengthen the economy and address inequalities. He stated, “Youth employability is not just an economic issue, but also a social one. The future starts now, and it needs to be built by all of us.”
In summary, President Daniel Chapo underscored Gapi-SI’s vital role in Mozambique’s economic and social development, particularly in facilitating financial inclusion and youth employment. The institution’s initiatives have generated significant job opportunities and financial support for small businesses. Chapo’s commitment to enhancing youth entrepreneurship and access to credit highlights the government’s dedication to economic growth and reducing inequality in Mozambique.
Original Source: clubofmozambique.com
