Africa-Press – Angola. The Angolan Government has made available an emergency credit line of 50 billion kwanzas to finance the 162 vandalized and looted companies in the country, during the three days of the taxi drivers” strike, the Minister of State for Economic Coordination, José de Lima Massano announced on Monday, in Luanda.
Speaking to the press, at the end of the meeting with businessmen harmed by the skirmishes, the Minister said that the measure aims to allow the rehabilitation of properties, replenishment of stocks, keep jobs, from salary payments (for three consecutive months), in a short period of time.
He explained that the financing will be operated by the Credit Savings Bank (BPC), with an interest rate of 5%, and entrepreneurs have a grace period of nine months to start repayment.
“This process will be quite fast, as the BPC should make the disbursements in a period of up to 20 days, and the line has a duration of 12 months”, the head of the Government”s economic team underlined.
For this purpose, entrepreneurs must attach the formal documentation of the company, the pay slips of the jobs affected and the police statement.
In addition to this support measure, according to the Minister, and also in the financial field, entrepreneurs have another line of financing of US$25 million to allow entrepreneurs to import equipment, products and goods that the country does not have.
As for tax measures, the Angolan official announced the recovery of Value Added Tax (VAT) at 100% and also the exemption from the company Labour Income Tax (IRT) for three consecutive months.
According to the Minister, the amounts made available by the Angolan Executive are resources taken from other Government programs, within the scope of the General State Budget, hence the companies have insurance and when they are paid, they must return to the State coffers.
The meeting was attended by the Government economic team, business associations, members of the Association of Modern Commerce and Distribution Companies of Angola (ECODIMA) and operators in the distribution and logistics sector.
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