The Bank of Mozambique has set a minimum share capital of 30 million meticais for the creation of mutual guarantee companies and loan guarantee fund managers in the country.
This measure is important so that financial institutions have the capacity to absorb potential losses and carry out their activities efficiently.
The loan guarantee funds are part of the package of economic acceleration measures financed by the World Bank, aimed at meeting the needs of micro, small and medium-sized enterprises.
Management companies were set up to administer the fund, with the aim of helping to leverage the economy and make access to credit more flexible, by establishing a mutual support system for micro, small and medium-sized enterprises, through the provision of guarantees and counter-guarantees.
For their part, loan guarantee fund management companies are intended to manage loan guarantee funds and carry out other legally permitted operations.
The minimum share capital established must be paid in through cash contributions.
