Africa-Press – Angola. A memorandum of understanding focused on training entrepreneurs, as well as to facilitate access to bank credit was signed Tuesday, in Luanda, by the National Institute for Support to Small and Medium Enterprises (INAPEM) and Standard Bank of Angola.
The document which aims to boost business capacity in the country includes training on financial education, business management, legal assistance, compliance, sustainability and mentoring, as well as to strengthen business competitiveness at national and continental level.
On the occasion, the Chairman of the Executive Committee of Standard Bank of Angola, Luís Teles, highlighted that the agreement is part of the company’s strategy with the aim of supporting micro, small and medium-sized companies, with a view to their sustainable growth.
He added that this measure also aims to strengthen the process of economic diversification and the integration of Angolan companies on the continent.
Luís Teles reported that the bank, which has been operating in Angola for around 15 years, currently has more than 600 billion kwanzas in credit concessions, of which 140 billion are for small and medium-sized companies.
In turn, the Chairman of the Board of Directors of INAPEM, Bráulio Augusto, said that the memorandum will strengthen the national business community, in addition to encouraging production and generating more jobs, especially in the priority sectors defined in the National Development Programme (PDN).
Luís Teles, Chairman of the Executive Committee of Standard Bank Angola, Andrew Mashanda, African Director for Small and Medium Enterprises and Offshore of the Bank and Bráulio Augusto, Chairman of the Board of INAPEM, signed the memorandum.
The act was witnessed by the Minister of Fisheries and Marine Resources, Carmen dos Santos, as well as entrepreneurs, staff from Standard Bank Angola and INAPEM.
Angola has 47,000 companies, of which more than 32,000 are micro-enterprises.
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