Angolan government wants to diversify exports through Angola Investe programme

30 October 2012

The Angolan government plans to promote the export of new Angolan products through the Angola Investe programme to support micro, small and medium-sized companies, Angola’s Economy Minister, Abraão Gourgel said Monday in Luanda according to Angolan news agency Angop.

Speaking at the opening of the seminar on “The Angola Investe programme: Objectives and Characteristics,” aimed at staff members of the 20 commercial banks involved in the programme, the minister noted that only 2 percent of Angolan companies exported products and that all of them were linked to the oil, gas, and diamond sectors.

The Angola Investe programme was created in order to reduce the bureaucracy involved in taking on loans and the cost of accessing business finance, with a view to diversifying the economy by increasing production of goods linked to the construction industry, fishing, agriculture, livestock, manufacturing industry and mines.

In order to gain access to Angola Investe, which was created in 2011, the company must be certified by the National Institute to Support Small and Medium-sized Enterprises (Inapem) must be 75 percent Angolan-owned and put forward projects related to eligible areas.

Micro companies can receive funding of up to 20 million kwanzas at subsidised interest rates, small companies can receive up to 150 million kwanzas and medium-sized companies have access to loans of up to 500 million kwanzas.

The loans are repayable over seven years, with a non-payment period of not less than six months, and an annual interest rate of up to 5 percent. (macauhub)