Angolan government to spend US$1.8 billion on creating small and medium-sized companies

16 March 2012

The Angolan government plans to spend US$1.8 billion to create small and medium-sized companies, develop existing ones and reduce dependence on the State, state newspaper Jornal de Angola reported Thursday in Luanda citing a speech by the country’s president.

“The State has a large presence in the economy and we plan for more Angolans to become entrepreneurs, to start good businesses, create jobs and contribute to national development,” said President José Eduardo dos Santos in a speech made last week cited by the newspaper.

Jornal de Angola also said that the president had approved an investment programme offering lines of credit, tax benefits and which will be funded by the State Budget and other sources.

President dos Santos also approved another programme worth US$223 million to help current companies by providing subsidised lines of credit and professional training. (macauhub)