Maputo — The Mozambican government initiative for small and medium-sized enterprises, the Catalytic Fund for Innovation and Demonstration (FCID), has already identified 40 enterprises that must draw up full proposals in order to have access to a fund of 7.5 million US dollars.

The FCID is a competitive, demand-driven fund with a selection process based on evidence that demonstrates business practices with benefits for small producers or small and medium-sized enterprises.

According to project manager Leonardo Jardim, speaking to reporters during the 59th edition of the Maputo International Fair (Facim-2024), out of more than 350 companies which applied for funds, 40 were chosen.

"These are companies located along the Zambezi Valley and the Nacala Corridor (in the Northern Province of Nampula), which are competing for FCID funding in a first window, budgeted at 7.5 million dollars for a total of 25 companies', he said.

Jardim explained that, at the moment, there are already 26 complete proposals submitted, which will be submitted to the investment committee.

"The investment committee is responsible for approving or rejecting the projects to be financed. The full proposals must include, among other things, the business plan, which is the final stage of the competition', he explained.

The manager said that this is the third edition of the Fund, which began in 2023 and will run until 2028. Jardim said disbursement is expected "of a total of 15 million dollars in two windows, the first of which is now under way.'

"We have 15 million dollars for the entire third edition, but there are two windows, and each window has 7.5 million dollars', he said. "The first window we call top-down and the other bottom-up. So, 25 companies are going to come for the first 7.5 million and another 25 for the other 7.5 million. In total there will be 50 companies'.