Africa-Press – Angola. The Credit Guarantee Fund (FGC) made its debut this Wednesday at Expo-Indústria/2023, where it seeks to attract entrepreneurs with the presentation of the main services available to support micro, small and medium-sized enterprises (SMEs) , within the framework of strengthening the national business community.
Created by the State 10 years ago, the FGC issues public guarantees, after analyzing the credit risk, for projects that are technically, economically and financially viable.
The Fund guarantees coverage of up to 75% of the financed capital for MSMEs, cooperatives and Startups, according to data provided by its Chairman of the Board of Directors, Luzayadio Simba, on the sidelines of the 5th Edition of Expo-Indústria/2023.
The Fund is a non-banking financial institution responsible for promoting, defending and developing the National System of Guarantees, acting as counter-guarantee in the operations of banking institutions.
Since its creation in 2012, the FGC has issued more than 770 credit guarantees valued at AOA 314 billion.
He underlined that medium-sized companies have a greater predominance of around 60% of the guarantees granted.
As part of the strategies, he said that the FGC plans to launch, this year, a program that aims to facilitate access to micro-credit credit, to encourage micro companies that yesterday still face difficulties in accessing financing from commercial banks. .
“Today, there are no longer any reasons for our businessmen not to have access to financing due to lack of collateral. This instrument exists and we appeal to our entrepreneurs, micro, small and medium-sized companies to make use of this instrument that was created by the Angolan Executive to facilitate access to credit”, he reinforced.
In terms of guarantees, until 2022, 285 guarantees were granted, in global terms since the existence of this institution out of the 770 issued.
Expo-Indústria/2023 takes place in an area covering two thousand square meters, where 238 national and international exhibitors are on display.
Sectors such as civil construction (22%), trade and distribution (12%), the textile and catering sectors (11% each), crafts (10%), oil and gas and agribusiness (8%) are on display at the event. each), banking, insurance and furniture industry (5%).
For More News And Analysis About Angola Follow Africa-Press
