Angola Investe programme provides US$600 million in investment loans

24 February 2014

Around US$600 million has so far been provided as part of the “Angola Investe” programme to support micro, small and medium-sized Angolan companies, an official said in Luanda.

Cited by Angolan news agency Angop, the director for the Studies, Planning and Finance area f the National Institute to Support Micro, Small and Medium-sized Enterprise (Inapem), Samora Kitumba, also said that that amount was provided by retail banks associated to the programme and had funded 204 business projects.

Kitumba said that the programme, which was launched at the end of 2012, would this year fund an estimated 500 projects.

The Angola Invest programme is intended to create and strengthen micro, small and medium-sized Angolan companies and offers subsidised loans and state guarantees. The programme’s priority sectors are agriculture, livestock, fishing, construction materials, manufacturing sector support services, the manufacturing industry, geology and mining.

The maximum amount of funding varies based on the size and specifications of the projects. Micro companies can take on maximum loans of 20 million kwanzas, small companies can take on loans of up to 150 million kwanzas and medium sized companies 500 million kwanzas, with interest rates of up to 5 percent. (macauhub)