Angolan bank BAI plans to fund relaunch of Huambo industrial park

12 January 2017

Angolan bank Banco Angolano de Investimento (BAI) intends to finance the revival of the industrial park of the central province of Huambo, which is currently at a virtual standstill, the bank’s director responsible for providing credit Inokcelina dos Santos said on Wednesday.

The director, addressing entrepreneurs at a lecture on credit policy at the BAI said that the revival of the industrial park would make use of venture capital, according to Angolan news agency Angop.

“The industrial park in the province is virtually inactive and may be relaunched through venture capital operations, where investors provide capital for the time required for the business to move forward alone,” added the director.

Inokcelina dos Santos also said that conditions had been created to invest and enable the province to return to the levels of agricultural, livestock and industrial production it had a few years ago.

The BAI director argued called on entrepreneurs to establish partnerships with the state, given that they can go on to have access to lines of credit that “open up a range of opportunities for those who have less capital.” (macauhub)