Africa-Press – Angola. A group of 100 sellers converted to the formal economy received, Friday, in Ndalatando, Cuanza-Norte, the first financing granted in the province under the National Program for the Conversion of the Informal Economy (PREI).
Among the businesses proposed by the beneficiaries are the sale of food, clothing, footwear and beverages. The representative of the Venture Capital Support Fund (FACRA), Simão Cardoso, stressed that the money given to each candidate depends on the turnover of each beneficiary, ranging between 300,000 and 7 million kwanzas.
Simão Cardoso defended the need for the beneficiaries to work with dedication, in order to increase the volume of business, with the aim of generating more income and employment opportunities for other citizens.
The director of the Provincial Office for Integrated Economic Development, Fernando Humberto Mesquita, stressed that, at the Kwanza-Norte level, 1,300 qualified people are registered to benefit from microcredits related to the PREI, indicating that the delivery of the amounts will be made in five distinct phases. , although it has not given a precise date for the completion of the first phase.
The financing is granted for a period of one year, with a grace period and interest of three percent, with beneficiaries being warned to repay the money to the State within the stipulated deadlines, under penalty of being summoned to court if they fail to do so.
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