Angola: United Nations agency supports micro businesses

25 February 2008

Luanda, Angola, 25 Feb – The United Nations Development Program (UNDP) plans to apply US$32 million this year to programs aimed at the social and economic growth of Angola, the UNDP’s director for Angola said.

Gita Honwana Welch said that this year the agency planned to promote the growth of micro businesses in order to encourage a large part of the population living in extreme poverty and added that the plan already had the support of business centers, incubators and private institutions.

The plan, which is a public/private partnership between Chevron, Banco Nacional de Angola and non-governmental organization Development Workshop, aims to provide youngsters working in the informal market with training on the economy, making it possible for them to access credit to create their own business.

The program, which was launched two years ago, has already benefited 23,000 people and has the support of other organizations aiming to benefit more young entrepreneurs living below the poverty line.

The project is based in Luanda and Benguela, where training is being given to “small and micro businesspeople and micro-credit institutions. The institution, which carries out the training, aims to help new entrepreneurs to get credit, by creating cooperatives.

In Welch’s opinion, Angola has a private sector that is important for economic growth, and she therefore believes that training staff is important.

The agency plans to extend the project and launch another project for developing sustainable businesses, by opening a specialized department. (macauhub)