Maputo – In an effort to bolster small and medium-sized enterprises (SMEs) in Mozambique, particularly those led by women, EIB Global and Moza Banco have initiated a significant financing program. This move is part of the European Union’s ‘Global Gateway’ strategy, focusing on promoting economic growth, prosperity, and gender equality in the region.

According to Africa News Agency, this initiative will address the financing gap often faced by women entrepreneurs. A €10 million loan from the EIB will enable Moza Banco to establish a new €20 million credit line specifically targeting SMEs in Mozambique. This effort is timely, considering that the African continent hosts one of the highest percentages of female entrepreneurs globally, with women constituting over three-quarters of the working population.