President Daniel Chapo praised Gapi-SI’s contributions to Mozambique’s economic development during its 35th anniversary. He highlighted its role in financial inclusion, job creation for youth, and support for small businesses. With significant loan allocations and international partnerships, Gapi continues to drive socioeconomic progress and innovation.
During a recent celebration of Gapi-SI’s 35th anniversary in Maputo, President Daniel Chapo emphasized the organization’s crucial role in Mozambique’s socioeconomic development. He noted its significant contributions to financial inclusion, support for micro, small, and medium-sized businesses, and job creation, particularly 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 by the Mozambican government, Gapi has become a pivotal agent in promoting economic and social growth. Between 2020 and 2024, Gapi disbursed loans totaling 1.4 billion meticais, aiding 2,642 businesses and creating roughly 8,753 jobs. Chapo stressed that this impact underscores the need for continued investment in sustainable growth and credit access initiatives.
Chapo highlighted Gapi’s partnership with the Government to secure international funding for essential sectors. He recalled the African Development Fund’s contribution in 2000, which revitalized the cashew industry and facilitated a credit line for post-flood recovery. Another key achievement was mobilizing World Bank resources to support 12,000 workers laid off during the restructuring of Caminhos-de-Ferro de Moçambique.
The President also introduced initiatives such as the Economic Reconstruction Fund and Mutual Guarantee Fund to improve credit access and minimize financial risks for small to medium-sized enterprises. He noted that 83% of the country’s states now have bank branches, and 92% are equipped with electronic currency agents, reflecting substantial strides in financial inclusion.
Chapo discussed the INCUBOX project, designed by Gapi and backed by the European Union, which aims to bolster youth entrepreneurship in Niassa, Cabo Delgado, and Nampula. Utilizing mobile containers as business incubators, INCUBOX provides essential training, technical support, and financing for emerging startups.
The President concluded by reiterating the Government’s dedication to bolstering economic initiatives and tackling inequalities: “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’s address during Gapi-SI’s anniversary underscores the organization’s vital role in fostering Mozambique’s economic and social development. Through promoting financial inclusion, supporting entrepreneurship, and creating job opportunities, particularly for youth, Gapi demonstrates its commitment to national growth. The collaboration with international entities enhances these efforts, paving the way for a more equitable future.
Original Source: clubofmozambique.com
