Province of Kuando Kubango, Angola, due to start paying debts in 2016

25 November 2015

The provincial government of Kuando Kubango province in Angola will start paying the debts incurred this year in the first quarter of 2016, announced Monday in Menongue the deputy governor for the economic sector.

Ernesto Kiteculo, providing the information to business owners from Kuando Kubango who conduct work under the Programme of Public Investments and provision of services, noted that the oil price on the international market had affected the implementation of the Provincial Development Plan for 2013-2017.

“The lack of funding has meant that the provincial government had little capacity to fulfil the programme and make the necessary payments,” he said, cited by Angolan news agency Angop.

With a lack of many public resources, Kiteculo advised business owners to seek solutions form banks operating in the province to develop the region’s economy through bank loans.

Honey production, animal husbandry, irrigation, construction of condominiums, schools, children’s centres, schools, just to name a few, are projects that can be carried out in Kuando Kubango with bank credit, said the provincial deputy governor.

“The province has 11 bank branches and the primary objective of local government is to attract banks to support business growth, focusing on cross-border trade, which trades goods and services with neighbouring Namibia and Zambia,” said the deputy governor for the economic sector. (macauhub/AO)