Angola Investe Programme supports Angolan businesspeople by providing subsidised loans

8 January 2013

The Angola Investe programme supports Angolan businesspeople by providing subsidised credit lines that are guaranteed by the state to micro, small and medium-sized companies, said the chairman of the Chamber of Commerce and Industry in Cunene.

Cited by Angolan news agency Angop, Francisco Boleth Sallu said that creating the financing and support programme motivated Angolan businesspeople to carry out investment projects.

He added that the subsidised credit lines give business owners access to loans with a maximum yearly interest rate of 5 percent, and the State makes up the difference between this rate and the standard commercial rate covered by the bank taking part in the programme.

Sallu noted that the Angola Investe programme’s priority sectors are agro-livestock, fishing and production equipment to support the manufacturing sector.

Angola Investe, which was set up in September 2012, has the financial support of 22 Angolan retail banks, and is intended to create a strong business sector by supporting micro, small and medium-sized companies. (macauhub)