Mozambique Releases a Report on Microfinance
Maputo, 29 September 2006 – Mozambique remains among the 10 most affected countries by HIV and AIDs issue in the world. According to the Mozambique’s National Human Report 2005, the prevalence rate among people aged 15 to 49 was 16.2 in 2004.
In this context, microfinance, besides from being recognized as an important poverty alleviation tool, can also play a significant role in mitigating the impact of HIV and AIDS by providing a means for individuals and communities affected by the disease to continue to develop their business, store up financial assets and enhance their overall quality of life.
This is one of the many findings of Microfinance in Mozambique: Achievements, Prospects and Challenges, a report commissioned by the Mozambique Microfinance Facility (MMF), a Canadian funded project with support of Mennonite Economic Development (MEDA) and Development Partnerships Inc. (DevPar) in association with the United Nations Development Programme (UNDP).
Offering an extensive overview of the microfinance development in Mozambique in the last ten years, documenting best practices and describing failures, the report provides an opportunity for reflection and stimulates dialogue on the potential role of Microfinance in rural areas.
Furthermore, the report offers a detailed overview of the different Microfinance service providers existing in the country, hoping to become a useful guide for potential clients, business community, policy makers and other potential partners that want to engage in the sector.
Symbolic tribute to 2005 as the United Nations International Year of Micro credit, the study is part of the Mozambique Microfinance Facility efforts to fill the information gap on different services and experiences available in the country and to raise awareness around the microfinance as tool in the fight against poverty.
The issue of microfinance as poverty reduction tool is particularly important given the Mozambique’s Government Five Year Plan priorities are focused on poverty reduction and His Excellency President Armando Guebuza declared rural development as national priority.
The report also concludes that the Government of Mozambique reached their in 1997 established target of having 100 thousands microfinance beneficiaries by 2005. On June 2005, the estimated net number of microfinance beneficiaries was beyond 103 thousands.
The report is expected to be launched tomorrow, 29 September, in Matutuine, Maputo province.
For more information, please contact:
Nelson Xavier, UNDP Public Information Officer.
Mobile phone: + 258 82 3140600
Office + 258 21 481438
E-mail: nelson.xavier@undp.org
UNDP is the UN’s global development network, advocating for change and connecting countries to knowledge, experience and resources to help people build a better life. We are on the ground in 166 countries, working with them on their own solutions to global and national development challenges. As they develop local capacity, they draw on the people of UNDP and our wide range of partners.