As part of its institutional partnership with MozUp (the Enterprise Development Centre sponsored by Area 4 partners, including Mozambique Rovuma Venture (joint venture between ExxonMobil, Eni and CNPC), as well as the other concessionaires in Area 4 (Galp , KOGAS and ENH), Millennium bim held a virtual seminar with Mozambican companies on April 22, 27 and 29, providing them with information on available financial products and services to meet their needs and promote Local Content. This virtual event, targeting potential local suppliers of goods and services to the oil and gas megaprojects in Mozambique, focused on access to finance, business planning, financial solutions to support investment, treasury and import, and bancassurance services.
Twenty companies from a variety of sectors attended the seminar, including companies from the real estate, logistics, construction, metalwork, engineering, architecture, catering and cleaning sectors, among others. These companies benefited from training conducted by senior Millennium bim staff, namely Oldemiro Belchior (Investment Banking Department), João Gonçalves (Corporate Marketing), Danil Suca (Credit Department) and Felix Moisés (Ímpar Insurance).
Millennium bim and Mozambique Enterprise for Sustainability (MES), implementer of MozUp, signed a Memorandum of Understanding in 2020 with the objective of promoting the development of financial solutions and positioning the bank as one of MozUp’s partners of reference in providing local SMEs with skills in business management based on best practices, making them eligible for bank financing and qualified to the demands of operators in the LNG industry. In this context of local SME capacity development, Millennium bim is positioned as a relevant financial partner in Mozambique’s business transformation process through the provision of innovative Corporate and Investment Banking solutions. According to the Director of Investment Banking and Chief Economist, Oldemiro Belchior, “Financial Literacy is a fundamental pillar in enabling access to financial resources to develop new value chains in the Mozambican ecosystem, including the LNG sector, strengthening the productive structure and improving business competitiveness. This strategic action reinforces Millennium bim’s commitment to empower the local business community, mostly composed of Micro, Small and Medium Enterprises, which represent the backbone of the national economy.
According to the Director of MozUp, Barbara Habib, ” access to finance is one of the greatest challenges faced by Mozambican SMEs today. MozUp has established partnerships with leading financial institutions, including Millennium bim, not only to improve the overall capacity of SMEs in financial and business management, but also to link these Mozambican companies to existing financial products and services that can help catalyze growth and the success of their business. To date, through initiatives like this, MozUp has supported more than 500 Mozambican companies in improving their business performance and competitiveness so that they are more qualified and prepared to provide services to the oil and gas industry, as well as other growing sectors in Mozambique. ”
About Millennium bim
Mozambique’s largest financial group, has set the pace for growth in the banking sector. In the process of making the Mozambican economy more banking, the Bank is present in all of the country’s provinces and today has a vast network of branches, more than 300 banking agents and one of the largest ATM and POS networks, with the contribution of its 2,500 employees who serve more than 1.8 million customers. Millennium bim is the first Mozambican Bank in the ranking of the 100 biggest Banks in Africa.
About Área 4
Area 4 is operated by Mozambique Rovuma Venture S.p.A. (MRV), a joint venture between Eni, ExxonMobil and CNPC which holds 70% of the interest in Area 4. Galp, KOGAS and Empresa Nacional de Hidrocarbonetos E.P., each have a 10% participating interest in Area 4. ExxonMobil, on behalf of MRV, will lead the construction and future operation of the liquefied natural gas and facilities, while Eni will continue to lead all upstream operations related to the deep-water block of Area 4.
About MozUp
Funded by Area 4 partners and implemented by Mozambique Enterprise for Sustainability (MES), MozUp is an Enterprise Development Center that serves as a platform to support the growth and development of Mozambican enterprises in all sectors, including the energy sector. The objective of MozUp is to develop the capacity of local SME to become competitive and able to provide services in the LNG industry and other growing sectors in the country. MozUp offers various services to SMEs, including business assessments, training, coaching, mentoring in compliance with Occupational Health and Safety requirements, certification, creating opportunities for business linkages, and information on accessing finance.
Source: Millenium bim / Press Release
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