Africa-Press – Angola. Around 200 projects in the province of Lunda-Norte were financed by the Microcredit Society “Kixicrédito”, which this Tuesday opened its first service point in the district.
The funded projects are valued at 220 million kwanzas, with emphasis on the actions included in the Informal Economy Reconversion Program (PREI), designed by the Angolan Executive.
The maximum value of microcredit is seven million kwanzas, with the repayment period being 24 months, with the interest rate set at 1.67% per month, also covering small entrepreneurial initiatives outside PREI.
Speaking to the press, the president of the Board of Directors of KixiCrédito, Joaquim Catita, made it known that the financing was made available in the last six months.
He highlighted that annually the institution disburses 15 to 18 billion kwanzas to finance projects across the country.
PAM
Regarding the Microcredit Support Program (PAM), the person responsible informed that 300 projects were financed in different areas, where 400 million kwanzas were disbursed in the first phase.
He clarified that the first phase of the PAM was implemented with funding from the European Union, benefiting entrepreneurs from the provinces of Uíge, Luanda, Moxico, Benguela, Huambo and Huíla.
“It had positive results, with a reimbursement rate of around 90 percent, which caused the Government of Angola, which will probably absolve him, which gives us guarantees that there will be phase two that will be national and more comprehensive ”, he stressed.
KixiCrédito is a business partner, Sociedade de Microcréditos, licensed in 2008 by the National Bank of Angola (BNA), whose main role is to grant microcredits to Micro, Small and Medium-sized entrepreneurs, with the aim of boosting their small businesses.
With the opening of this service point, the country now has 37.
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