Hospitality and tourism industry included in Angola Investe programme

2 September 2014

The hospitality and tourism sector has been included in the Angola Investe programme, an initiative of the Angolan government to support investment in productive sectors, the minister for Hotels and Tourism announced Monday in Luanda

Minister Pedro Mutindi said the move was long overdue, since “only the existence of a fund for the promotion of tourism would be able to facilitate a better positioning of the Angolan businesses linked to the sector.”

With this measure, the minister continued, sector operators, who will have access to funding from Angola Investe in the same way as entrepreneurs from other sectors, may choose to use these funds to promote their business.

The Angola Investe programme was initially designed to support investments in the areas of agriculture, livestock and fisheries, construction materials, services to support the manufacturing sector, energy and mining.

This programme provides maximum funding of 20 million kwanza (for micro enterprises), 150 million kwanza (small businesses) and 500 million kwanza (medium-sized businesses).

Also according to Angolan news agency Angop, the Economy Minister Abraão Gourgel, said that in two years the Angola Investe programme has granted 180 loans, totalling 32.8 billion kwanza or US$340 million. (macauhub/AO)