Africa-Press – Angola. The Angolan government made available, this month, 200 million kwanzas to finance income-generating economic activities in Cuanza Norte province, within the scope of the Informal Economy Reconversion Program (PREI).
Funding is aimed at young entrepreneurs, agricultural and livestock producers, street vendors and other low-income economic activities.
Speaking to ANGOP, this Wednesday, the director of the Provincial Office for Integrated Economic Development, Fernando Humberto Mesquita, informed that the financing ranges from 200,000 to 7 million kwanzas per project.
Street commerce and other small-scale activities will benefit from 200 to 500 thousand kwanzas each, while medium-sized ones will receive up to seven million kwanzas each.
To speed up the process, the Cabinet for Integrated Economic Development is working with the municipal administrations of Cazengo (provincial headquarters) and Cambambe, districts with the greatest economic activity in the province, to install a service area within the framework of the PREI .
In the first phase of the project, the province received 20 million euros for 40 vendors from the Tala Hadi, Catome de Cima and Lenga Lenga markets (municipality of Cazengo), out of a universe of 3,800 registered.
As for the Credit Support Program (PAC), 82 companies were financed, of the 200 registered, which each received 40 million kwanzas, in a financial package of around Kz 2 billion.
The PREI has been implemented in the country since 2020 and is part of the National Development Plan (PND).
Official data indicate that in the province of Cuanza Norte, the first phase of the PREI campaign took place normally due to the services that make up its chain, such as the General Tax Administration (AGT), Guiché Único de Empresas, the National Institute for Support of Small and Medium Enterprises (INAPEM), Social Security Institutes (INSS), and Employment and Vocational Training Institutes (INEFOP).
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