Moza Banco and Vodacom recently signed a Memorandum of Understanding in Maputo, in which the bank and the mobile phone company agreed to remove the barriers that limit access to finance for small and medium-sized national companies (SMEs). 

Through a new banking solution designed specifically for small and medium-sized national companies, Moza banco will now finance SMEs in Vodacom's supply chain.

The agreement signed between the two institutions will guarantee that, when necessary, Moza will cover the financial needs of Vodacom's supplier, allowing this entrepreneur, even without investment capital, to request and have liquidity to supply goods and services to this mobile telephony multinational.

Moza's Executive Board Member Jaime Joaquim and Vodacom's Finance Director Beatrice Mabhena signed the memorandum, thus making the new + SME solution possible.

As a result, companies can now participate in Vodacom tenders without the fear of being excluded for lack of financial capacity to supply goods and services to Vodacom.

On the occasion, Beatrice Mabhena highlighted Vodacom's desire to strengthen investment in national companies, saying that "Vodacom wants to be increasingly connected to Mozambique, creating economic opportunities for small and medium-sized enterprises which, as everyone knows, face difficulties especially in accessing finance. We believe that this agreement will contribute significantly to strengthening the local economy and even create more jobs for people."

For his part, Jaime Joaquim highlighted Vodacom as an essential partner for Moza, with which the Bank intends to strengthen its relations even further, to the benefit of the national business community.

"We have a mutual desire to ensure that an increasingly significant percentage of Mozambican companies are able to compete at the same level as international companies. As a Mozambican bank, we will continue to work tirelessly to boost the country's economy by investing in local businesses," said Jaime Joaquim.

As a Mozambican bank, Moza believes that joining forces on behalf of the national business community is one of the most effective strategies for ensuring an increasingly independent economy, in which entrepreneurs, from the smallest to the most robust, make a better future for the country happen.