Africa-Press – Angola. Ten billion kwanzas is the amount that the Bank of Commerce and Industry (BCI) has available to finance projects for Micro, Small and Medium Enterprises (MSME), as well as cooperatives and individual entrepreneurs, who can request up to Kz 200 million for each project.
To implement this initiative, the Credit Guarantee Fund (FGC) and BCI signed, this Tuesday, in Luanda, an agreement that determines an “Automatic Public Guarantee” of up to 75 percent of the amount financed to each company.
However, companies with share capital subscribed mainly by women can benefit from a Public Guarantee of up to 80% on the financed capital, with the maximum value depending on the plan provided by the institution in the memorandum with FGC.
This financing is part of the Support Line for Sustainable Projects (LAPS) designed by the FGC, an action that results from the Guarantee Development Acceleration Plan, with the aim of reinforcing the fight against food insufficiency, increasing employability and reconverting the economy informal.
Regarding the signing of the aforementioned agreement, the president of the FGC Board of Directors, Luzayadio Simba, stated that the document fits into the institution’s strategy of achieving a thousand Public Guarantees this year.
Speaking to the press, the manager named BCI as the eighth commercial bank in this partnership, which will provide more financing offers for the national economy, materializing business projects in Angola, with a direct impact on the population.
He said that of the thousand projected guarantees, around 30% of the planned target had already been achieved, a percentage still below the recommended objectives, due to the slowness of banks in disbursing approved credits.
With this, the FGC calls on commercial banks to speed up shipments, particularly for entrepreneurs who have already obtained certification from this institution, so that promoters can materialize their respective projects and boost the national economy.
According to Luzayadio Simba, the industry, agriculture and fishing sectors are those that most request public guarantees.
In turn, the president of the BCI Executive Committee, Renato Borges, guaranteed that his institution has already fine-tuned the mechanisms to evaluate and approve the submitted process and the rapid disbursement to the project.
He informed that the bank created the segment to serve Micro, Small and Medium Enterprises, because the institution understands that the real economy is the country’s main objective.
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