Africa-Press – Angola. Ninety-seven projects, included in the Informal Economy Reconversion Program (PREI), benefited, during the first half of this year, from global funding of 58 million kwanzas, said in the city of Saurimo, the director of the Office for Economic and Integrated Development, Kelson Malomalo.
The official said that the amounts are available from the operator KixiCrédito, where the province of Lunda Sul has 300 million kwanzas to cover approximately 500,000 different projects.
Without giving numbers, Kelson Malomalo believes that the funding will help create many direct and indirect jobs.
He said that the beneficiaries were trained in various areas such as financial and digital literacy and entrepreneurship.
To access PREI funding, according to the director, citizens must have formalized their businesses in the formalization campaign, which took place in the Candembe market.
The credit is earmarked for three financing levels, the first ranging from Kz 50,000 (Kz) to Kz 250,000, the second is above Kz 250,000 to Kz 2,500,000, the third is around Kz 7 million, depending on of the project presented by the trader.
PREI is the Program for the Reconversion of the Informal Economy, designed by the Government of the Republic of Angola to promote the Transition from the Informal Economy to the Formal Economy.
The PREI formalization process is coordinated by the Ministry of Economy and Planning and implemented by an intersectoral team.
For More News And Analysis About Angola Follow Africa-Press
