Only 2 pct of companies registered in Angola export goods

25 February 2013

Only 2 percent or around 1,000 of the 50,000 companies registered in Angola export their goods and they are all in the extractive industries, Samora Kitumba, of the Economy Ministry, said Saturday in Wako Kungo, according to Angolan news agency Angop.

At the 4th National Summary Meeting of the Integrated Municipal Programme for Development and Combating Poverty, held Friday and Saturday, in Kwanza Sul province, Kitumba also said that Angolan companies import almost everything, even food, which leads to currency exports.

As currency exports are a concern for the central government, the Economy Ministry official said that in order to change the current situation “Angola Invest” had been created to support national businesspeople that have had difficulty in securing funding to carry out their investments.

He noted that through this programme businesspeople were offered subsidised loans through banks included in the Angola Invest Programme and that part of the interest was paid by the Treasury.

According to Kitumba the programme is expected to create 9,000 new jobs. (macauhub)

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