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Confiança is a microfinance institution that was originally an OXFAM NGO program launched in the late 90s in a region south of Maputo, heavily marked by civil war and the ensuing exodus. Its main activity is the provision of loans to businesses and the agricultural sector. It intends to start collecting savings in the near future.
Mozambique is one of the poorest countries in the world. Half of its population lives below the poverty line, despite significant mineral (coal) and agricultural wealth, as well as its hydroelectric potential. In 2021, the United Nations Development Programme ranked Mozambique as the seventh least developed country in the world according to the Human Development Index. Mozambique also figures among the five countries most affected by natural disasters, with frequent cyclones and droughts. Furthermore, the country suffers from an unstable political and security environment, particularly since the Islamist group “Al-Shabaab” launched its insurrection in 2017 in the northern region of Cabo Delgado.
Due to its associative roots, Confiança is an MFI focused on the rural world. It operates mainly outside urban centers and targets the most disadvantaged populations in one of the poorest countries in the world. It has recently gained access to funding from the International Fund for Agricultural Development (IFAD) to increase its impact on farmers.
