{"id":30097,"date":"2022-11-29T17:51:49","date_gmt":"2022-11-29T17:51:49","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/msmes-cannot-pay-what-credit-institutions-ask-for"},"modified":"2022-11-29T17:51:49","modified_gmt":"2022-11-29T17:51:49","slug":"msmes-cannot-pay-what-credit-institutions-ask-for","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/msmes-cannot-pay-what-credit-institutions-ask-for","title":{"rendered":"MSMEs cannot pay what credit institutions ask for"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Credit institutions continue to make demands for financing which micro, small and medium-sized companies cannot satisfy, calling on them to train themselves up so as to access funds.<\/p>\n

Two thousand one hundred and forty-seven financing providers operate in Mozambique, 89% of them microcredit operators.<\/p>\n

Micro, small and medium-sized companies say that they still have difficulty accessing finance for their activities.<\/p>\n

The complaints are not just from companies; credit institutions are also complaining about the lack of capacity, according to a study presented at a workshop in Maputo for financial service providers on factors that limit access to finance for micro, small and medium-sized companies (MSMEs) this Monday.<\/p>\n

\u201cOn the one hand, we have financing service providers who say that entrepreneurs should invest more in their training and should also invest in their strategic business planning, allowing for greater clarity in what companies and the private sector want for their investment projects,\u201d said Gonc\u0327alo Francisco, management consultant at Mazars.<\/p>\n

\u201cOn the other hand, there is a mismatch between the capacity of the companies and the requirements of the institutions.<\/p>\n

\u201d
\nThe findings are not new.<\/p>\n

The results reveal that, this year, only 60% of the business sector had access to funds from credit institutions.<\/p>\n

\u201cThe guarantee levels are also complicated; the process, the paperwork, the business plan \u2013 some of these elements are important matters for the Chamber of Commerce of Mozambique, because it will help our institution to design a support program for these institutions,\u201d said Hipo\u0301lito Hamela, financial manager at the Mozambique Chamber of Commerce.<\/p>\n

In addition to the lack of financing, high interest rates limit the functioning of micro, small and medium-sized companies.<\/p>\n

But there is already a proposal for a solution.<\/p>\n

\u201cIt is necessary to arrange some incentives and mechanisms so that entrepreneurs can benefit from subsidised interest rates,\u201d Gonc\u0327alo Francisco suggested.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Credit institutions continue to make demands for financing which micro, small and medium-sized companies cannot satisfy, calling on them to train themselves up so as to access funds. Two thousand one hundred and forty-seven financing providers operate in Mozambique, 89% of them microcredit operators. Micro, small and medium-sized companies say that they […]<\/p>\n","protected":false},"author":84,"featured_media":30095,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-30097","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nMSMEs cannot pay what credit institutions ask for - Mozambique<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/msmes-cannot-pay-what-credit-institutions-ask-for\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MSMEs cannot pay what credit institutions ask for\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Mozambique. Credit institutions continue to make demands for financing which micro, small and medium-sized companies cannot satisfy, calling on them to train themselves up so as to access funds. Two thousand one hundred and forty-seven financing providers operate in Mozambique, 89% of them microcredit operators. 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