Benguela - Five projects linked to the logistics chain, in the province of Benguela, will be financed, in the coming days, by the Active Venture Capital Fund (FACRA), ANGOP learned this Wednesday.
The information was made known in Benguela by the member of the FACRA Restructuring Committee, Mário Mangueira, adding that the average values to be allocated are around 150 million kwanzas for each selected project. However, he revealed that there is a credit line of five billion kwanzas for the entire country and the minimum amount to finance a project is 50 million kwanzas.
Mário Mangueira predicts that, if everything goes well, within three weeks, financing for projects approved in Benguela will be implemented. He assured that the goal is to boost the flow of products from the countryside and through the sea, as well as storage and small local manufacturing industries.
Hence, FRACA is working with the Benguela Provincial Office for Integrated Economic Development, which identified the projects selected for this financing.
At the moment, he pointed out, the necessary documentation for each project is being collected, so that FACRA can implement financing in the logistics chain sector as soon as possible.
According to him, the financing targets projects in the area of transport, storage or conservation of products from the countryside and the sea, and small manufacturing industries. "We are prioritizing companies that are already in operation, where entrepreneurs guarantee experience", he stressed, adding that the idea is to support transport companies that absorb the production of a given municipality, thus enabling the flow from the countryside to the city.
To this end, Mário Mangueira highlighted that FACRA is in Benguela to determine whether the values requested by these five companies are in line with their capacity, given the risk.
"This second visit to Benguela is to determine all the requirements for us to be able to finance", he assured, indicating that FACRA is carrying out similar activities throughout the country.
More projects
The source also announced that other projects are in the pipeline, with emphasis on the Dombe Grande commune warehouse.
"Benguela has not yet received funding, but we want to publicize more to increase the level of adherence of producers in the logistics chain," he explained. Therefore, he urged producers to present their projects in order to be evaluated, with a view to financing them.
According to the source, FACRA is focusing on the measures to stimulate the economy carried out by the Executive. He added that the interest rate is 7.5 percent per year, and the FACRA modality differs from that of banks.
This is because, he highlighted, FACRA becomes a minority partner in the project that it finances until the end of the repayment period, in which it returns its share to thepromoter.
On the other hand, he made it known that, in addition to the credit provided, the institution also seeks to help the company in terms of accounting, employee registration with Social Security, among other issues.
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