Africa-Press – Angola. Two hundred and 16 companies had, in 2023, access to credit with the facilitation of the Credit Guarantee Fund (FGC), 96 more compared to 2022.
According to a press release from the FGC, this number of companies corresponded to guarantees valued at more than 184 billion kwanzas, the result of bank financing in the order of Kz 298 billion.
In 2022, the volume of guarantees was 62 billion kwanzas, with bank financing standing at Kz 106 billion.
According to the note, during 2023, the Agriculture sector led the list of guarantees issued, with 74 projects and a guarantee volume valued at more than 63 billion kwanzas.
The fisheries area comes next with 57 projects, processing industry (56), livestock (14) and support services for the productive sector (15).
The projects guaranteed by the Credit Guarantee Fund are financed by different banks operating in the country.
This year, the note points out, the fund intends to issue a thousand public guarantees, facilitating access to financing for the business sector and promoting national production, axes that are part of the set of measures to stimulate the economy and boost its potential outlined by the Executive.
In 2023, the FGC launched the Credit Guarantee Acceleration and Promotion Plan, which establishes partnerships with commercial banks for the automatic approval of public guarantees in financing of up to 200 million kKwanzas, providing for risk coverage of up to 80% of capital for projects financed by women.
The Credit Guarantee Fund was created in 2012, with the aim of facilitating access to bank credit for micro, small and medium-sized companies and individual entrepreneurs.
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