Mozambique: Youth employment fund launched

The Maputo City Municipal Council has launched an empowerment fund budgeted at 70 million meticais (over one million US dollars, at the current exchange rate) aimed at financing projects planned for young people in the capital city. The project, which is funded by the municipality’s budget, intends to make available approximately 10 million meticais annually to each of the seven municipal districts. He also said that the project constitutes a milestone in strengthening local economic inclusion policies.

“We are investing in Maputo’s youth. The country’s capital wants to favor its young people in order to generate economic stability”, he declared. The project is expected to cover 5,000 young people this year.

It will prioritize the sectors of digital economy, agribusiness, creative industries and small industries. The fund will also cover projects in fishing, tourism, culinary arts, pastry making, and aesthetics. “In addition to funding, beneficiaries will have access to training programmes in business management, financial education, and project development, with the aim of ensuring the sustainability of the initiatives”, he said.

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He added that the fund is expected to fill the gap in direct support for youth entrepreneurship, covering citizens between 18 and 35 years of age residing in Maputo. “We call on young people to participate because the success of the programme will depend on responsible management and repayment of the amounts granted”, he said. The authorities warned that young people who have already benefited from similar initiatives will not be eligible for this fund. The money takes the form of loans, not grants, and the municipality expects the beneficiaries to repay.

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