Africa Agriculture Angola Banking Development DFI Economy Farming Finance

Angola records over 5,000 applications for credit to local enterprises

At least 5,090 requests for credit support are registered with the Credit and Sales Committee, a service of the Programme to Support Production, Diversification of Exports and Import Substitution (Prodesi), the Secretary of State for Economic Affairs, Mário Caetano João said yesterday in Luanda.

With the 5,090, there are an additional 32 requests than in the previous week, of which 2,758 met the requirements and are active in the database.

According to the Government official, of the active projects, 1327 are in the credit file stage, representing about 48 percent of the active projects and more than 165 projects are under negotiation in the banking sector.

Speaking at the usual bi-weekly Briefing of the Ministry of Economy and Planning (MEP), Mário Caetano João stressed that, all in all, the product projects that have sought the most funding from the banks and whose promoters intend to invest are maize with 243 intentions, beans with 187, cassava with 140, tomatoes with 127 and potatoes with 101.

Also read: Angola Prodesi finances coffee production

Of these requests for funding, he added, in the week under review 121 plus 9 had moved on to the negotiation phase with the intention of producing the following maize 47 (plus 2), beans 31 (plus 4), cassava 19 (without new requests), tomatoes 12 (plus 1) and potatoes 12 (plus 2), and the respective promoters are spread across the provinces of Bengo, Bié, Cabinda, Kwanza Norte, Kwanza Sul, Huambo, Huíla, Lunda Norte, Lunda Sul, Luanda, Malanje and Uíge.

The government official said that in relation to the line of funding for the cooperatives, it was important to note that after the credit files of the 75 cooperatives had been sent, the files of a further 16 cooperatives were sent to the BDA during the week, making up a total of 91 files handed in so far.

For the present week more co-operative files are being instructed to be submitted to the BDA in the framework of the credit support initiative of the 306 co-operatives selected at national level.

Source: Angop

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