Investment & Fund Management

In the Portuguese city of Aveiro, José Rodrigues, known locally as ZéTó, faced a significant challenge when he sought to expand the Oficina de Música de Aveiro (OMA), a music school he purchased from his former teacher. The school, which was the first in the region to offer courses in modern music genres like jazz and pop rock, had outgrown its initial basement location due to increasing demand for classes and the need for more storage for music materials.

To address these challenges, ZéTó sought financial support in 2014 to facilitate the school's expansion. He successfully obtained an EU-supported microloan through Millennium BCP, an EIF financial intermediary. This funding enabled OMA to relocate to a larger facility in a serene neighborhood by the river, providing an inspiring environment for students. The microloan also covered renovation and expansion works, allowed for the hiring of additional teachers, and facilitated the purchase of new equipment.

As a result of these efforts, OMA now employs 15 teachers and serves approximately 150 regular students. The school has also diversified its offerings by developing special classes for the elderly and individuals with disabilities, thereby enhancing its community impact and accessibility. This strategic expansion not only improved the school's capacity but also positioned it as a vital institution for music education in the region.