Small and medium-sized enterprises (SMEs) in the Zambezi Valley and the Nacala Corridor will benefit from 15 million dollars in funding from the World Bank, as part of the Conecta Negócios economic connections project.  

The project is coordinated by the Ministry of Economy and Finance and is to be implemented in central and northern Mozambique, in the mega-project areas,

According to Notícias, the project is part of the Catalytic Fund for Innovation and Demonstration, and envisages the creation of small and medium-sized companies.

The prospect is to create around 10,000 medium-sized companies and 9,000 small ones, in order to meet the needs and demands of the mega-projects.

The Governor of Zambézia, Pio Matos, said this week at the launch of the third edition of the project that the Fund should improve the economic performance of companies, and that it should give a greater boost to the private sector.

Grants from the fund range from 50,000 to 400,000 dollars, with a 30% participation for companies selected through a competition. Applications are open for three months. The interested company must be registered in the mega-project database or have participated in a large company training program.