Government of Angola approves credit line for young entrepreneurs

13 January 2017

The government of Angola on Thursday approved the creation of a credit line worth US$24 million to finance young entrepreneurs’ projects, and the maximum amount per project will be US$200,000, said Thursday in Luanda the Minister of Youth and Sports.

At the end of the joint meeting of the Economic Committee and the Real Economy Committee of the Council of Ministers, Minister Albino da Conceição said the meeting approved the draft presidential decree establishing the Credit Line Regulation to Support Young Entrepreneurs (Projovem) to be provided by Angolan bank Banco de Desenvolvimento Angola (BDA).

The minister also he wanted the programme to respond to some requests from young people during the National Youth Consultation Forum held in 2013 under the National Development Plan, according to Angolan news agency Angop.

Albino da Conceição noted that the credit line will cover activities in the hotel and tourism, trade, services, industry, agriculture, livestock and fisheries, information technology, communications and cultural initiatives.

The project’s operators will be entities linked to the National Youth Council, the National Youth Institute and National Institute of Support to Small and Medium Enterprises. (macauhub)