Angolan government creates new institute to support private business sector

21 February 2018

Angola’s National Institute for Support to Micro, Small and Medium Enterprises (INAPEM) is expected to be merged with the Institute of Business Development (IFE) making way for a new institute aimed at supporting the private business sector, Angolan financial newspaper Valor Economico reported.

The newspaper quoted sources linked to the Ministry of Economy and Planning as saying that the studies and analyses for the merger of the two institutes, which were the responsibility of a technical group created by President João Lourenço, are already concluded, and the final document was submitted to the Minister of Economy and Planning, Luís da Fonseca, at the end of January.

The launch of the future institute requires approval from the Ministry of Economy and Planning.

INAPEM is responsible for the implementation of policies to support entrepreneurship, acting in the areas of training and setting up micro, small and medium enterprises, while the IFE, according to its articles of association, has the mission of executing policies and business development strategies for large companies and national business groups.

These duties will be taken over by the new Institute for the private business sector which, “in material terms, will be part of the Programme to Support Production, Diversification of Exports and Substitution of Imports (Prodesi).” (macauhub)