Africa-Press – Angola. The Credit Guarantee Fund (FGC) will, later this year, reinforce its focus on financing projects linked to agri-business, fishing and the manufacturing industry, through a new line of credits, which will be faster in granting credit of up to 200 million, with a view to accelerating investment in the sector.
Investing in agriculture, livestock, fishing, manufacturing and support services for the productive sector is the FGC’s priority, as revealed today, Friday, in Lubango, by its commercial director, Márcia Joseph.
The official stated that in the new guarantee line to support small businesses, approval will be automated for financing from 10 to 200 million kwanzas, with coverage of 80 percent of the public fund.
Among the requirements, he stated that there is a letter requesting financing from financing entities, proof of the purpose of the credit, updated identity cards of the partners, a passport-sized photograph of the manager, as well as others to be defined.
For the technician, this is a factor that will encourage the banking market, and an adjustment of the grace period (currently set at between six months and one year) is also in the pipeline, taking into account production cycles, so that those financed do not default.
He considered that one of his missions is to identify the various weaknesses of his partners, which are the banks, and identify the weaknesses that the financial market faces.
“Partners must comply with the necessary requirements to avoid being ineligible for this automation, since the Credit Guarantee Fund has listed a series of factors that have to do with proximity and monitoring the execution of projects”, he said.
He made it known that nowadays monitoring is more incisive and present, allowing the reduction of rates and levels of default, which means that companies have access to extraordinary financing conditions.
Márcia José ten to know that the FGC provided financing for 800 projects in the most varied sectors at national level, the fund was created to give sustainability to the extinct Angola Invest program.
He recalled that since its institutionalization, the FGC has already provided national businesspeople with more than 350 billion kwanzas, which is still considered derisory in its 11 years of existence.
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