President Daniel Chapo emphasized the vital contribution of Gapi-SI to Mozambique’s socioeconomic development during its 35th anniversary celebration. He highlighted the institution’s efforts in financial inclusion, support for SMEs, and job creation, particularly for youth. Notable initiatives included INCUBOX, underscoring the commitment to enhance youth entrepreneurship and economic growth.
During the 35th anniversary celebration of Gapi-SI in Maputo, President Daniel Chapo emphasized the critical role the investment company plays in advancing socioeconomic development in Mozambique. He underscored Gapi-SI’s efforts to promote financial inclusion, enhance support for micro, small, and medium-sized enterprises, and create job opportunities, particularly for the youth in the nation.
Chapo articulated, “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, Gapi has emerged as a significant contributor to the nation’s economic and social development.
The President shared that from 2020 to 2024, Gapi-SI provided 1.4 billion meticais in loans, benefiting 2,642 enterprises and generating around 8,753 jobs. These statistics highlight the necessity of continued investment in initiatives promoting sustainable growth and easier access to credit.
Additionally, the celebration outlined Gapi’s collaboration with the government in securing international resources to enhance strategic sectors. Chapo recalled significant past contributions, including a donation from the African Development Fund in 2000 that revitalized the cashew industry and a line of credit for economic recovery following the flooding that year.
Chapo noted that between 2002 and 2004, resources mobilized from the World Bank facilitated the reintegration of approximately 12,000 workers from the restructuring of Caminhos-de-Ferro de Moçambique. The President also referred to the establishment of the Economic Reconstruction Fund and the Mutual Guarantee Fund, aimed at improving credit access and minimizing financial risks for SMEs.
Current data illustrates that 83 percent of Mozambique’s 154 states have banking branches, while 92 percent have electronic currency agents, reflecting significant strides in financial inclusion. One innovative initiative showcased was INCUBOX, which focuses on boosting youth entrepreneurship by utilizing mobile containers as business incubators to offer training and financing in various provinces.
As President Chapo asserted, “Young entrepreneurship needs support and real opportunities. We need to join forces between the government, companies, and educational institutions to ensure that young people have access to the job market and can develop their own initiatives.” He concluded with a strong commitment to projects designed to bolster the economy and tackle inequalities, stating, “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 conclusion, President Daniel Chapo highlighted the indispensable role of Gapi-SI in fostering economic development and financial inclusion in Mozambique. With significant milestones in financing and job creation for youth, Gapi-SI exemplifies the partnership between government and organizations in supporting economic growth. The innovative initiatives presented, particularly for youth entrepreneurship, point toward a concerted effort to address societal challenges and prepare for a sustainable future.
Original Source: clubofmozambique.com
