Africa-Press – Angola. The implementation of the Program to Support Production, Diversification of Exports and Substitution of Imports “PRODESI” allowed the creation of close to 71 thousand 677 jobs, from 2018 to 2022, in Angola.
These data were published by the Ministry of Economy and Planning (MEP) and, according to which, the commerce and distribution sectors are the ones that created the most jobs, with 40 percent (28,670 jobs), followed by Agriculture, which employed 35 % (25 086) of the total workforce.
Next comes the aquaculture sector (tilapia farming), with 11% (7 884), while the manufacturing sector follows with 9% (6 450) and other areas of economic activity employed 5% (3 583).
The creation of these jobs resulted from the approval and financing of a total of 3,182 projects, valued at more than one billion kwanzas (Kz 1,054,764).
According to the MEP, 2,552 companies benefited from these projects, surpassing the target set by the National Development Program (PDN) 2018/2022, which expected to reach 1,514 companies.
In addition, the total number of funded projects also covered 630 cooperatives, against 470 estimated by the PDN.
In this set, most of the approved projects were in the agriculture sector, with 1,512, while trade and distribution benefited from 662 financed projects and the manufacturing industry had 334.
The funded projects are distributed across the country’s 18 provinces, with a greater emphasis on Luanda, which concentrates 733 projects, followed by Benguela, with 249.
Among the 18 provinces, the province of Uíge also stands out, with 198 projects, Cuanza Sul (188), Huambo (176), Huíla (176) and Bié, with 161 approved projects.
PAC leads Prodesi funding
The implementation of the projects approved under PRODESI essentially depended on four financing instruments: Credit Support Program (PAC), Economic Relief, Notice 10/2020 from the National Bank of Angola (BNA) and the German bank Deusche Bank, in addition to other financial sources.
In this list, PAC stands out, which has already disbursed a total of 45.34 billion kwanzas, which have financed 1,093 projects.
Alongside this funding, the PAC has 3,583 completed credit processes, 2,071 projects sent to the Development Bank of Angola (BDA), 1,807 approved projects, 714 projects to be financed/disbursed and 1,512 in the pipeline.
With this, the implementation of this program registers a positive performance, with the approval of 87.2% of the projects submitted to the BDA, with a ratio of 60.4% of the projects approved and financed, according to data from the Ministry of Economy and Planning.
On the other hand, Economic Relief financed 694 projects, while 400 were financed through BNA Notice 10/2020 and eight projects benefited from support from Deusche Bank. Still of the total number of funded projects, 482 were financed from other sources.
As a result of this combination of forces between PRODESI and the sources of funding, there was an increase in production and productivity in the sectors involved, resulting in a reduction in the volume of imports of around 1 419 million dollars in 2021, which represented a decrease of 46.63%, compared to 2018, when this program was approved.
Additionally, 2021 was marked by the recovery in the volume of exports, which rose to USD 67 million, against USD 44 million in 2020, for example.
In the same vein, until October 2022, exports stood at over US$59 million.
Approved by the Angolan Executive, on July 20, 2018, PRODESI is a program that essentially aims to accelerate the diversification of national production and wealth generation, in a set of productions with greater potential for generating export value and replacing imports .
This program is fundamentally focused on the sectors of food and agro-industry, mineral resources, oil and natural gas, forestry, textiles, clothing and footwear, construction and public works, information technologies and telecommunications, health, education, training and research. science, tourism and leisure.
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