Africa-Press – Angola. The executive director of the Savings and Credit Bank (BPC, Luis Duarte, announced on Monday in Luanda that (BPC) has approved six applications for financing for companies vandalized last July in Angola, two of which have already received the funds made available.
Speaking to the press on the sidelines of a meeting between officials from the public bank, business leaders, representatives of the Attorney General’s Office, the Criminal Investigation Services and the National Police, Luís Duarte, who did not disclose the amount made available, added that the BPC is evaluating another 98 applications for due consideration.
‘At this moment, the bank is rigorously evaluating the cases, as we are aware that, by law, we only have 20 days to respond to the requests,’ he said.
According to the administrator, only companies that comply with the bank’s requirements will receive a positive response.
He mentioned that, at this moment, the bank is proceeding with disbursements according to the purposes of each operation, meaning that the approved amount differs from the amount loaded.
As for the other six companies whose applications have already been approved but have not yet had access to financing, Luís Duarte clarified that they are complying with the contractual procedures for this purpose.
The process of receiving financing applications ran from 11 August to 1 September and, according to the BPC, responses to applications are subject to a deadline of 10 working days.
Monday’s meeting was part of a strategy to clarify to business owners the financing line available to companies that were vandalised and looted following the taxi service strike on 28, 29 and 30 July this year.
The measure to support vandalised companies is contained in Presidential Decree No. 150/25 of 4 August and aims to enable the recovery of these companies, the resumption of their commercial activities and the maintenance of jobs.
According to this document, affected entrepreneurs have access to a credit line of 50 billion kwanzas and another of 25 million dollars to enable them to import equipment, products and goods that are not available in the country.
The Decree establishes a deadline for submitting loan applications of 1 September 2025, while financing authorisation must be granted within 20 days of receipt of the loan application and all supporting documents.
With an interest rate of 5% per annum, the loan has a grace period of nine months.
In the tax area, priority reimbursement of 100% of VAT to affected companies is provided for, as well as a three-month exemption from the payment of contributions due by employers to Social Security, corresponding to 8% of the gross monthly remuneration of their employees registered with Social Security.
For More News And Analysis About Angola Follow Africa-Press
