Africa-Press – Angola. The Angolan government’s immediate support measures for businesses affected by acts of vandalism that happened between July 28th and 30th of this year during a taxi drivers’ strike, were published in the Official Gazette and has been in force since Tuesday (August 5).
The initiative, enshrined in Presidential Decree No. 150/25 of August 4th, aims to enable the recovery of these businesses, the resumption of their commercial activities, and the preservation of jobs.
Among the measures, a credit line with a limit of 50 billion kwanzas, to be operated by the Savings and Credit Bank (BPC), stands out for granting credit to affected businesses.
According to the decree, this amount will be used to rehabilitate facilities and purchase damaged equipment, replace damaged or stolen goods, and pay salaries. Companies must be formally constituted and registered, have their tax paid, and their representatives must submit a request to the BPC, detailing the amount of the loan they intend to take out, the purposes and modalities of use, together with the documentation described in the paragraph.
The requirements also include the presentation of proof of damage, through a certificate issued by the National Police Command.
Furthermore, the Presidential Decree establishes a deadline for submitting loan applications until September 1, 2025, while financing authorization must be granted within 20 days of receiving the loan application and all supporting documents. With an interest rate of 5% per year, the loan has a nine-month grace period.
In the tax area, priority reimbursement of 100% of VAT is provided to affected companies, as well as a three-month exemption from the payment of Social Security contributions owed by employers, corresponding to 8% of the gross monthly remuneration of their employees registered with Social Security.
In addition to these support measures, entrepreneurs also have access to another line of financing worth US$25 million to enable them to import equipment, products, and goods that the country does not have. The aforementioned measures were announced on Monday (Auguust 4) by the Minister of State for Economic Coordination, José de Lima Massano, after a meeting with the affected businesspeople.
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