President Daniel Chapo emphasized Gapi-SI’s significance in Mozambique’s socioeconomic development during its 35th anniversary celebration. He highlighted efforts in financial inclusion and support for entrepreneurship, particularly among the youth, citing impressive loan statistics and job creation. Collaborative initiatives aimed at boosting strategic sectors were also underscored, reflecting the Government’s commitment to enhancing the economy and reducing inequalities.
During the celebration of Gapi-SI’s 35th anniversary in Maputo, President Daniel Chapo underscored the institution’s pivotal role in Mozambique’s socioeconomic development. He emphasized Gapi-SI’s contributions to financial inclusion, job creation, and support for micro, small, and medium-sized enterprises, particularly for the youth. “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,” Chapo stated.
Established in 1989 by the Government, Gapi-SI has emerged as an essential contributor to economic and social progress. Between 2020 and 2024, Gapi-SI provided 1.4 billion meticais in loans, benefiting 2,642 enterprises and generating approximately 8,753 jobs, highlighting the importance of investing in sustainable growth and credit access.
The event also showcased Gapi-SI’s collaboration with the Government in obtaining international resources for strategic sectors. Chapo recalled the successful securing of a donation from the African Development Fund in 2000 to revitalize the cashew industry and the mobilization of funding from the World Bank for reintegrating workers affected by public company restructuring.
President Chapo outlined the creation of the Economic Reconstruction Fund and the Mutual Guarantee Fund to enhance credit access and mitigate risks for small businesses. He noted that 83 percent of Mozambique’s states now have bank branches, while 92 percent possess electronic currency agents, marking significant strides in financial inclusion.
The President highlighted the INCUBOX initiative, supported by the European Union, which aims to foster youth entrepreneurship in the Niassa, Cabo Delgado, and Nampula provinces. The program utilizes mobile containers as business incubators to provide training and financing for startups. “Young entrepreneurship needs support and real opportunities… ensuring that young people have access to the job market,” he stressed.
Concluding his remarks, President Chapo reiterated the Government’s dedication to supporting projects that strengthen the economy and reduce 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 conclusion, President Daniel Chapo’s remarks during the 35th anniversary celebration of Gapi-SI emphasize the institution’s critical role in aiding Mozambique’s socioeconomic development. Highlighting initiatives that foster financial inclusion and youth entrepreneurship, the President calls for collaborative efforts to enhance job opportunities and reduce inequalities. The measures outlined demonstrate Gapi-SI’s commitment to driving positive change in the nation.
Original Source: clubofmozambique.com
