A Microcredit Program by The Aga Khan Development Network at Cabo Delgado

OS practitioners of small businesses in the province of Cabo Delgado will run from November, a microcredit program to be financed by the Network Aga Khan Development. This will be carried out by “The First Microbanker Mozambique” to be installed in Pemba, the first of its kind to operate in the north. The bank plans to also extend its activities to Niassa, Nampula and Zambezia provinces by 2013, it means that those regions of the country are high rates of poverty. The idea is to reduce the vulnerability of the poor and help people become self-sufficient.

Maputo, Saturday, July 18, 2009:: News This information was disclosed Thursday by Nazim Ahmad, Ambassador of the Aga Khan Network for Development in Mozambique, speaking on Day celebrations of the Imamat of His Highness the Aga Khan. The ceremony brought together beyond the Ismaili community in Maputo, some members of the government and national business groups, mostly based in the Mozambican capital.

Bank lending to these small dealers Cabo Delgado serve to solve problems of prolonged poverty and hunger. Loans will be, in principle, accompanied by training in basic concepts of management, so that the beneficiaries become entrepreneurs financially self-sufficient.

The Aga Khan Foundation, currently, is present in five districts of Cabo Delgado, supporting some 22,000 households or over 120,000 direct beneficiaries, through rural development programs that cover the areas of agriculture, livestock development, education, health , income generation, entrepreneurship, civil society, gender equality, care for orphans and vulnerable children, environment, water and sanitation.

On occasion, Nazim Ahmad made a kind of balance on the main activities financed by the community and stressed the funds allocated for road construction between Negomano Mueda and also in the province of Cabo Delgado. In this connection was made public starting 23 for the current month project SEACOM. This is a project whose foundation stone was laid last year and that is the placement of 15,000 miles of underwater fiber optic cables that will link southern Africa and Horn of Africa with South Asia and Europe.

Moreover, through the services of industrial promotion Aga Khan Fund for Economic Development, is operating at Training School of Textile Factory Moztex. At present, over 250 trainees, mostly women, receive technical training with practical and theoretical classes. The Moztex have seven production lines, it is expected that the first two are operational until the first half of next month.

Source ( In Portuguese): MACUA


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