Africa-Press – Angola. The president of the Chamber of Commerce, Industry and Agro-livestock in Bié, Gil Januário Chindai, lamented in the city of Cuito, the difficulties that local businessmen face, especially in accessing bank credit.
The official stressed that the situation is making the execution of several projects unfeasible.
From the surveys that have been carried out, entrepreneurs point out above all the bureaucracy of the process, from the delay in appraising the application and the volume of information required by the bank.
They point to other constraints such as the short duration of the remuneration period, the high interest rates and the insufficient amount granted on loan.
Gil Januário Chindai recalled that companies play a relevant role in the economy and in the generation of new jobs, however, they still face many difficulties for their growth and financing.
Therefore, he asked for more lines of financing so that businessmen can participate in the development of the province in the various economic and social sectors.
“The ease of opening your own business is not always the same, to continue and keep growing you need help. Many companies are limited”, he argued.
Gil Januário Chindai is of the opinion that commercial banks can play an important role in periods of economic crisis, taking into account their vocation of being creditors of potential investors who want to relaunch productive activity.
The president of the Chamber of Commerce, Industry and Agriculture in Bié defended the continued commitment to agricultural production, which he considers crucial for the region’s economic growth.
The provincial director of the Integrated Economic Development Office of Bié, Figueiredo Canguende, when making a balance of activities in 2022, said that, within the framework of PRODESI, 18 projects were financed in this province, worth AKZ 760 million 930 thousand 784, by the Development Bank of Angola (BDA).
As for the credit line for modernizing and expanding activities in the agriculture, livestock and fisheries sector, 18 cooperative projects were selected, of which 16 have already been financed, with a total value of 550 million kwanzas.
For the Fundo Activo de Capital de Risco Angolano (FACRA), the province had more than 1,000 projects registered, of which only five were financed, for a total of 20 million kwanzas.
For the Agrarian Development Support Fund (FADA), Bié registered 40 projects, 13 of which were approved and financed, with a total value of 202 million 324 thousand 33 kwanzas and 81 cents.
As for the Credit Support Project (PAC), 197 projects were registered, 46 were approved and financed, worth 1.658 million and 710 thousand kwanzas.
At the level of this province, the Chamber of Commerce, Industry and Agriculture has 272 associates, a number considered far below expectations, taking into account the numerous business opportunities that this region boasts.
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