Banco BIC of Angola wants to be the bank for Angolan farmers

19 June 2015

In the mid to long-term Banco BIC will be chosen bank of Angolan farmers, “because Angola need to have a strong agricultural sector,” said Wednesday in Luanda the chairman of the board of directors.

Fernando Teles, who was speaking at the inauguration by the minister of Agriculture, Afonso Pedro Canga, of new premises of a company specialised in selling agricultural equipment Agrozootec, said that financial institutions should support agricultural and livestock projects, because Angola urgently needs to replace imports with national products.

Banco BIC financed part of capital invested in the construction of Agrozootec’s new facilities located in the vicinity of 11 de Novembro Stadium, according to Angolan news agency Angop.

The management of the company, which sells tractors, tractor tools, threshing machines, generators and other equipment, as well as fertilisers, believes that the future of Angola requires development of the agricultural sector, which is why it has focused on this segment to support large, medium and small farmers, by supplying machinery and guaranteed after-sales assistance.

The company invested at least US$3 million of its own funds on its new premises, set in a plot of 6 hectares including buildings covering an area of 4,500 square metres. Banco BIC provided funding to buy the equipment that the company sells. (macauhub/AO)