Africa-Press – Angola. Six hundred million kwanzas, of the two billion provided for micro-credit, in the second phase of the Informal Economy Reconversion Program (PREI), were delivered by the Executive to formalized operators, said Tuesday, at the Catinton Market, in Luanda, the Minister of Economy and Planning, Mário Caetano João.
The official who noted the progress of the process of formalizing the operators of the informal market in the Catinton neighborhood, a reference in Luanda, highlighted the fact that, in the first phase of the PREI, more than two billion kwanzas had been granted, out of the total four billion that is expected by the end of the programme.
Mário Caetano João advanced that, at the moment, other financial resources are being considered, so that no operator with capacity is left without receiving micro-credit, taking into account that “capital is a growth factor and with them the economy grows”.
He added that the country’s Gross Domestic Product (GDP) grew by 0.7 percent in 2021, due to the growth of market vendors, street vendors and rural producers, a factor that leads to the intention of another financial injection to these operators.
Mário Caetano João explained that each operator can receive between 50 thousand and seven million kwanzas, according to their capacity, in addition to the support that will be given to large operators for the reception of credit, with the elaboration of a project through the Instituto National Support to Micro, Small and Medium Enterprises (INAPEM).
The official said that they had approved the restructuring of the Credit Support Project (PAC), to be operated exclusively by the Development Bank of Angola (BDA), due to the fact that other banks were making the process quite lengthy.
Regarding the training and literacy process of operators at the Catinton Market, he said that 35 of the more than 4,000 formalized people are already participating in training and literacy classes and 12 are already benefiting from micro-credit.
Recent data show that PREI has already registered more than 130,000 people nationwide and formalized the activity of 132,471 operators in Lundas Norte and Sul, Moxico, Malanje, Cuanza-Norte, Huambo, Bié, Huíla, Cunene and Luanda.
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