Lobito - Standard Bank has 60billion Kz (roughly USD70.3 million) available to finance small and medium-sized Angolan companies, as a strategy for this year, ANGOP learned.
Speaking to the press, the bank's Executive Director for Small and Medium Enterprises, Fernando Chivinda, stated that, in addition to other sectors, its focus is on agriculture.
"The amounts to be made available by sectors are analyzed on a case-by-case basis, depending on the projects presented by clients", he stated.
Regarding guarantees, he said they are closely associated with what customers have to offer.
"It is important to mention that Standard Bank has a product called "Flex Crédito", which does not require a guarantee from customers. It is for those who have difficulties in presenting any assets, these are analyzed in the form of a transaction and we assign a value", he explained.
As for interest, he made it known that it depends on the specific transaction.
He spoke about the case of agriculture, which benefits from Notice 10 of the National Bank of Angola, which allows companies to be financed at a rate of 7.5% or 10%, if the financing relates to raw materials.
Regarding disbursement installments, he said that the difference with others is that Standard Bank finances based on business analysis.
"We check the client's financial capacity and advise whether it makes sense to pay in 1, 3 or 5 years", he explained.
Presence of Standard Bank at FIB
The Executive Director of Standard Bank said that the institution's priority for this year, at the Benguela International Fair, is a consultation strategy to identify the challenges that exist in the province.
"We are aware that the fishing sector is experiencing great difficulties due to the "considerable reduction in fish", he informed.
Regarding this issue, he informed that, for some companies that are having difficulty honoring their commitments, the Bank, in addition to providing financing, monitors the business.
"The Bank does not limit itself to approving a credit operation, we finance it, approve it and every three months we analyze the client's financial performance", he clarified.
According to him, Standard Bank is the banking institution with the lowest default rate for small and medium-sized companies, set at 0.5%.
Standard Bank has been present in Angola since 2010.
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