Angolan banks prepared for Angola Invest Programme

21 September 2012

Angolan bank Millennium Angola has 14 billion kwanzas (US$146 million) to support businesspeople that take part in the Angola Invest Programme (Programa Angola Investe), to support micro, small and medium-sized Angolan companies, said the bank’s marketing director Fábio Correia.

Speaking to Angolan news agency Angop, Correia said that this was a credit line available for viable projects in the production sector that were certified by the National Institute for Support of Small and Medium-sized Enterprises (Inapem).

The programme, which is being applied by 20 Angolan banks, has identified agriculture, livestock/fishing, construction materials, and services to support the production sector as priorities areas for supporting micro, small and medium-sized companies.

Banco de Fomento Angola (BFA) also announced it was prepared to provide loans to private Angolan businesspeople as part of the Angola Invest Programme, which was set up by the Angolan government, according to the regional business banking director for BFA.

The Angola Invest government programme is intended to support micro, small and medium-sized Angolan companies focused on agriculture, industry, retail, fishing and other sectors with a view to diversifying the economy and increasing business activities in the country.

The loans provided as part of this programme have a subsidised interest rate that may not exceed 5 percent and are also guaranteed by the State. (macauhub)