Lubango - The delegate of the Angola Industrial Association (AIA), in Huíla, Francisco Chocolate, denounced the “slowness” of the Development Bank of Angola (BDA) in analyzing projects and processes for granting financing to industrialists, some of whom even wait two years.
Francisco Chocolate said there are seven AIA members in Huila province complaining about constraints in the credit granting process, which has a waiting time of up to two years.
He highlighted that many projects are carried out taking into account a specific budget, but due to the bank's excessive bureaucracy, when the amount is made available it is already depreciated and, as a result, it is difficult to fully implement it.
Chocolate added that there are cases of entrepreneurs who requested financing equivalent to 100,000 US dollars and when it is made available, it is already depreciated by more than 70% and, as a result, the projects are not fully developed.
According to Francisco Chocolate, the BDA, as a public financial institution created to support the country's sustained economic growth should encourage the increase of national wealth, the continuous improvement of the well-being of the populations and the construction and consolidation of the economy, so it must review its practices and engage in more dialogue.
The association leader lamented the fact that there are still two agro-industrial companies associated with the AIA, located in the municipality of Humpata, which have had their contracts signed with the BDA two years ago and are still waiting for the amounts to be allocated.
He mentioned that this concern was presented to the Minister of State for Economic Coordination, José de Lima Massano, in a recent meeting held with the Huíla businesspeople.
Contacted by ANGOP, the regional director of the BDA, Vivaldo Quitongo, said the matter is of concern to the central management.
AIA in Huíla has registered more than 200 affiliates in its database, including owners of large, medium and small industrial enterprises.
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