President Daniel Chapo underscored Gapi-SI’s significance in Mozambique’s economic development during its 35th anniversary, emphasizing its support for financial inclusion and youth entrepreneurship. He reported significant loan disbursements, job creation, and strategic partnerships with international organizations aimed at boosting the economy. Gapi’s initiatives, notably the INCUBOX project, aim to enhance opportunities for young entrepreneurs across the nation.
In a recent celebration marking the 35th anniversary of Gapi-SI, President Daniel Chapo emphasized the organization’s crucial role in Mozambique’s socioeconomic development. He noted Gapi’s contributions to financial inclusion, support for micro, small, and medium-sized enterprises, and the creation of job opportunities, particularly for the youth, which aligns with government objectives.
Since its inception in 1989, Gapi has successfully positioned itself as a key player in economic and social growth. According to President Chapo, between 2020 and 2024, Gapi has disbursed 1.4 billion meticais in loans, benefiting 2,642 enterprises and generating approximately 8,753 jobs. This achievement underscores the necessity of continual investments in sustainable growth and accessible credit.
The event also highlighted Gapi’s collaboration with the government to secure international funding aimed at enhancing strategic sectors. Chapo reminisced about attracting a donation from the African Development Fund in 2000 that revitalized the cashew industry and managing a $100,000 economic recovery line of credit following floods.
Additionally, Chapo noted the mobilization of World Bank resources between 2002 and 2004, which aided approximately 12,000 workers displaced by the restructuring of the national rail company, Caminhos-de-Ferro de Moçambique. He introduced initiatives such as the Economic Reconstruction Fund and the Mutual Guarantee Fund designed to improve credit access and mitigate financial risks for small and medium enterprises.
Significantly, Chapo mentioned the INCUBOX initiative, designed by Gapi with support from the European Union. The project aims to foster youth entrepreneurship in Niassa, Cabo Delgado, and Nampula provinces using mobile containers as business incubators, offering training and funding to new ventures.
In conclusion, President Chapo reiterated the government’s commitment to initiatives that bolster economic strength and combat inequality. He asserted that “youth employability” is not merely an economic concern but a societal one, emphasizing the collective responsibility in shaping a prosperous future.
In summary, President Daniel Chapo has reinforced the pivotal role of Gapi-SI in fostering economic development and financial inclusion in Mozambique. By highlighting the organization’s contributions to job creation and support for young entrepreneurs, Chapo articulated a clear vision for sustainable growth. He emphasized ongoing government commitment to enhancing access to credit, particularly for youth-led initiatives, as a means of addressing economic and social inequalities.
Original Source: clubofmozambique.com
