Africa-Press – Angola. Government “Agrojovem” credit program, with the aim of promoting the inclusion of young people in the financial sector and promoting self-employment in Angola, has already benefited from two billion and 900 million kwanzas, from 2020 to June this year, in a financing from the Agrarian Development Support Fund (FADA).
According to the chairperson of the FADA Board of Directors, Felisbela Francisco, Monday, this financing covered 450 young people, across the country, also aiming to contribute to reducing the rural exodus.
She also highlighted that the institution has several partnership agreements signed with different organizations, with emphasis on State bodies, private companies and anchor farms equipped with best agricultural practices and providing technical assistance, guaranteeing the purchase of production from small farmers.
She said that the memoranda of understanding with anchor companies, such as Ialurc, made it possible to finance more than 140 peasant families, benefiting from credit worth 510 million kwanzas, for the production of corn and wheat.
According to the manager, this financing made it possible to work 715 hectares of sown land, which resulted in the harvest of 121 tons of corn, on 80 hectares, a production already sold, which has allowed the beneficiaries to process the reimbursement.
Felisbela Francisco said that, in the province of Huíla, a memorandum of understanding was also signed with a company, where FADA supported 98 families, within the scope of agricultural campaign credit. This support line, he said, aimed to support the production of onions, reindeer and sweet potatoes, in an area of 208 hectares, with a forecast of harvesting more than three thousand tons.
Regarding the Vinevala Farm, located in the province of Bié, she said that FADA also signed a memorandum of understanding, resulting in the financing of 230 farmers who are dedicated to wheat production, in an area of 237 hectares.
With this production, she said that a harvest of 284 tons of wheat is expected, to be sold to the anchor farm.
In the same vein, she highlighted that, in the province of Cuando Cubango, the institution signed an agreement that allowed financing 420 farmers specializing in the production of rice, corn and wheat, in an area of 1,708 hectares and expects to harvest more than 3 thousand tons of the aforementioned products..
According to the chairperson, FADA’s strategic partners include the Institute for Agrarian Development (IDA), the Food and Agriculture Organization of the United Nations (FAO), as well as the International Fund for Agricultural Development (IFAD) and other institutions.
Regarding the 2023-2026 three-year period, Felisbela Francisco said that FADA defined four major strategic pillars: promotion and diversification of agricultural production; financial strength and sustainability of the institution; improvement of internal organization; and social and environmental responsibility.
To achieve these goals, he said that financial products are available grouped into eight lines of financing, from production support, which aims to finance the acquisition of inputs or production factors, such as seeds, fertilizers and pesticides.
She clarified that the investment support line aims to finance the acquisition of agricultural equipment, from tractors, motor cultivators, irrigation systems, motor pumps, chainsaws and other means of production.
Felisberta Francisco mentioned that there is also a commercialization support line, which aims to finance the acquisition of rolling stock to transport production, a support line for community funds, with the aim of financially reinforcing agricultural cooperatives, including the support for livestock farming, with emphasis on credit for pig farming, poultry farming, goat farming and fish farming.
In addition, the FADA PCA highlighted that young people and rural women are also part of the beneficiaries, highlighting a line to support the production of coffee, cocoa, honey, cotton, sunflower and palm trees in the family subsector.
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