The European Union is supporting the INCUBOX-II program, an initiative launched last January and which aims to support the creation of 1,080 micro, small and medium-sized enterprises by young entrepreneurs in the provinces of Nampula, Cabo Delgado and Niassa.

The information was provided by Rui Amaral, the program director of Sociedade Financeira de Desenvolvimento (GAPI), this Wednesday (5), according to AIM.

Developed by GAPI, INCUBOX is an initiative that will be implemented in partnership with the Aga Khan Foundation, with funding from the European Union.

According to Rui Amaral, phase II will focus on young people between the ages of 18 and 35.

The current phase will last 48 months, during which time 250 trainees will be trained.

Of the total of 1,080 companies, around 40% will be run by women, with internet access via solar panels.

"GAPI's pillar is that we don't hand over money or resources without being sure that people will have the skills to manage those resources," said the President of GAPI's Board of Directors, Rafael Uaene, quoted in the AIM publication.

For his part, the President of the Maputo City Council, Rasaque Manhique, made it known that GAPI is an institution that plays a fundamental role in the development of the economy.

"The municipality of Maputo as capital bears witness to a growing number of micro, small and medium-sized enterprises that make a secure, free contribution to the local economy," he said.