Mozambique's CTA to Train SMEs for €4.5 Billion Hydropower Project

en.Wedoany.com Reported - The Confederation of Economic Associations of Mozambique (CTA) has signed a cooperation agreement with the Mphanda Nkuwa Hydropower Plant to provide capacity-building support for small and medium-sized enterprises (SMEs) participating in the project.

The agreement was signed in Maputo during the 21st Annual Private Sector Conference (CASP). The Mphanda Nkuwa Hydropower Plant project, with a budget of €4.5 billion, will be built 61 kilometers downstream of the Cahora Bassa Hydropower Plant (HCB). The CTA will assist SMEs in integrating into the project.

During the same event, the CTA also signed an agreement with Evolution, which will provide coverage services for the federation's entrepreneur-related activities. Additionally, the CTA signed an agreement with the Biodiversity Conservation Foundation (Biofund) aimed at enhancing entrepreneurs' capacity in climate change management and sharing experiences.

The Mphanda Nkuwa project plans to build a hydropower plant with a generation capacity of 1,500 megawatts (MW) and lay a high-voltage transmission line connecting Tete Province and Maputo Province, spanning 1,350 to 1,400 kilometers. The Mozambican government expects the project to become operational by 2031.

CTA Vice President Onório Manuel stated that the latest CASP meeting aimed to accelerate reforms and improve the country's business environment. He mentioned the recently approved Mining Law, Petroleum Law, and Local Content Law, which are pending the approval of implementing regulations before they can take effect. Onório Manuel said that this year's meeting discussed with the government how to expedite the implementation of these laws and emphasized the need to continue involving the private sector in regulatory design to ensure the laws align with macroeconomic environment expectations.

Reviewing the previous session, the CTA leader noted that an Entrepreneur House and a conference hall are being built in Inhambane Province at a cost of €1.7 million. These infrastructure projects are nearing completion and will be used to attract and retain potential investors, as well as provide capacity building for SMEs.