The Mozambican government has begun rolling out $74 million to support micro, small, and medium-sized enterprises across the country.

During a ceremony in Nacala-Porto, President Daniel Chapo announced that the financing is specifically aimed at local businesses in the central and northern regions, which have faced heavy strains from severe weather events and recent disruptions.

The funds are being distributed through key channels, including the World Bank-backed Catalytic Fund for Innovation and Demonstration and the Business Recovery Fund.

According to reporting by Bright Sonjela, the capital is designed to help entrepreneurs upgrade their facilities, purchase vital equipment, secure working capital, and safeguard local jobs while strengthening regional supply chains.

–ChannelAfrica–