Government of Angola facilitates lending to entrepreneurs

19 November 2014

Bureaucratic constraints on the financing of investment projects in Angola are being overcome with the approval of several orders that allow easier access to loans, Angola’s Minister for the Economy said in Ndalatando.

Minister Abraão Gourgel was speaking at the end of a visit to investment projects in Kwanza Norte province funded under the Angola Investe programme, moments after meeting with local businessmen who told him about constraints on private investment, especially those related to granting work visas to skilled personnel and the repayment period of credit received.

At the meeting, the businessmen said that the delay in the renewal of work permits jeopardises some projects and the minister replied that this was a matter “we have to solve or at least help with,” according to Angolan news agency Angop.

These bureaucratic processes, he said, would also be simplified with the approval of several orders, one of which has already been approved an will reduce the cost of founding a company, and another, being approved by parliament, simplifying the creation of commercial companies.

The province of Kwanza Norte has over ten investment projects approved for funding by the Angola Investe programme. (macauhub/AO)