Africa-Press – Angola. The province of Moxico records low adherence by producers to financing from the Angolan Venture Capital Active Fund (FACRA), allegedly due to the excess of documents required in the application process.
The technician from the provincial office of Economic and Integrated Development of Moxico, Moniz Landa, said that for two months the institution has been waiting to receive the producers’ files, however, so far no company has submitted an application to obtain financing.
FACRA has the vision of contributing to the diversification of the Economy, through investment in Micro, Small and Medium Enterprises (MSME) , in order to catalyze national production in the most varied sectors of the real Economy.
The requirements for obtaining financing include more than 10 requirements, including a financing request letter, business plan, proof of commercial registration, criminal record, INAPEM certificate, certificate of non-debtor from AGT and social security, permit.
It also includes a report on the financial years and a balance sheet demonstrating the results of the last three years and licenses, product sales and service provision agreements, among others.
According to Moniz Landa, in addition to the supposed requirements, most companies demonstrate organizational incapacity.
Moxico with more than 90 agricultural projects pending at the BDA
Still on production, around 91 projects from producers in Moxico have been waiting for a year for financing from the Development Bank of Angola (BDA), as part of the implementation of the Production Support, Export Diversification and Import Substitution Program (PRODESI). ).
Of the 131 projects submitted to the BDA in 2022, at the provincial level, only 40 benefited from financing, worth one billion, 371 million and 105 thousand kwanzas.
As for the other projects, mostly in the agricultural sector, he said that they remain pending at the BDA, awaiting validation and consequent financing, for the start of production activity in the region.
The province, with 223 thousand 23 squares, is inhabited by close to one million people, distributed across nine municipalities, namely Alto Zambeze, Bundas, Camanongue, Cameia, Luacano, Luau, Léua, Luchazes and Moxico.
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