Africa-Press – Angola. The province of Bengo is among the ten provinces in the country with the most projects financed and guaranteed under the credit lines operated by the Credit Guarantee Fund (FGC).
According to the director of the FGC Guarantee Recovery Office, Renato Baptista, Bengo province has 55 projects, a total funding of around 15 billion Kwanzas and guarantees of around 10 billion Kwanzas.
According to the official, these figures are below what is expected and, therefore, he wants investors to request more funding, since the fund exists to help with whatever is necessary.
Without giving further details, he informed that a diagnosis carried out in the province on its potential in fruit production and fish farming concluded that there was a need to invest more.
That’s why we’re here to show that the fund can help, he said.
In ten years of existence, the fund has already issued 752 guarantees for a financing volume of more than 500 billion Kwanzas and guarantees above 300 billion Kwanzas, said the official.
The Credit Guarantee Fund is a non-bank financial institution, created on May 4, 2012, by Presidential Decree No. 78/12 to facilitate access to bank credit for micro, small and medium-sized companies and individual entrepreneurs, through of mechanisms of public guarantees, for the development of its activities.
The fund guarantees up to 75 percent of financing requested and approved by commercial banks.
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