Lubango – Angola Investment Bank (BAI) has a credit line available with packages ranging from 5 million to 500 million Kz (USD 1 = 851.8Kz) intended for agri-business projects in the province of Huíla.
This is financing aimed at the Credit Support Program (PAC), Simplifica and Express, with priority for companies certified by the Institute of Small and Medium Size Enterprises (INAPEM) and affiliated with the Industrial Association of Angola (AIA), according to what was announced today, in Lubango, by the BAI's regional director, Milagres do Espírito Santos Chitungo.
Milagres Chitungo was speaking to businesspeople as part of the launch of a seminar to obtain financing from BAI aimed at Small and Medium size Enterprises (SMEs), organized by the AIA provincial delegation, stating that the money is for projects aimed at the civil construction sector, commerce, mechanics, accounting, financial consultancy, manufacturing industry, electronics, handmade fishing, mechanics, electricity and telecommunications, law, beauty salon and agriculture.
It considered that the free fee period will be three to six months, reimbursable for three years, to avoid possible disruptions in the clauses approved between the institution and the entrepreneur.
For bankers, the credit line constitutes a platform for leveraging and accelerating the national economy, as well as contributing to the creation of employment for youngsters and the reduction of poverty in the country.
In turn, Lubango's municipal administrator, Lisender André, invited to open the event, said that the opportunities to acquire financing are a “healthy” measure, because it will generate growth and development at all levels.
Speaking on Nuno Mahapi's behalf, the Huíla provincial governor, he stated that 60% of the business class resides in Lubango and now has the chance to obtain financial assistance.
At the event, the AIA provincial delegate, Francisco Chocolate, highlighted that 120 companies were registered for this financing, having warned the beneficiaries to comply with legal procedures.
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