Africa-Press – Mozambique. Princess Cristina de Bourbon, the sister of Spain’s King Felipe VI, and patron of the ‘la Caixa’ foundation, paid a courtesy visit to Gapi in Maputo to learn about the joint actions carried out by the development finance institution and the Ayuda en Accion organisation it sponsors.
Accompanied by a team that included representatives of Ayuda en Accion and Funde, Cristina de Bourbon was greeted by the Gapi executive committee on Tuesday, September 13, 2022, with its president, Adolfo Muholove, sharing the main programmes that his institution is developing to promote economic inclusion in Mozambique, through the promotion of innovation, entrepreneurship and job creation.
In partnership with Ayuda en Accion, Gapi implements a programme called Work for Progress in eight Cabo Delgado districts (Metuge, Ancuabe, Balama, Chiúre, Mecúfi, Montepuez, Namuno and Pemba), aiming to provide technical and financial assistance for small businesses which promise to generate income and employment at the micro-enterprise level.
To facilitate access to financing, the programme has a guarantee fund which shares the credit risk and increases access to credit. This fund covers up to 75% of borrowers’ risk. This is intended to attract commercial banks to also finance some of these small businesses. In addition to the guarantee fund, la Caixa Foundation provides, via the Ayuda en Accion NGO, a small credit fund to finance investments by micro and small companies in the eight districts mentioned.
The Work for Progress programme also provides technical assistance to help small business managers to better structure the start-up and expansion of their businesses.
The 117-year-old la Caixa Foundation is committed, through financial activity and social activities, to social support and the vocation of work in favour of the general interest.
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