Africa-Press – Angola. Ten companies vandalized and looted between July 28th and 30th, during the taxi drivers strike, have submitted their respective loan requests to the Savings and Credit Bank (BPC), to repair the damages suffered, as part of the financial relief program approved by the Angolan government.
The information refers to 7 companies, primarily commerce-related, from the province of Luanda and 3 from Malanje, requested over AKz 27.2 billion (roughly USD 29.3 million), a process that began on the 11th of the current month.
The information was made official on Monday (18) by the Marketing Director of the aforementioned banking institution, JoseĢ Matoso, who said that of the 10 requests, three (from Luanda) were validated, valued at about AKz 21.9 billion for facilities rehab, acquisition of goods and payment of salaries, with the remaining credit requests still under analysis.
He noted that companies eligible for financial support have until September 1st to submit their loan applications.
The Angolan Executive approved a package of AKz 50 bln to finance more than 162 companies affected by vandalism and robberies during the taxi drivers strike last July.
In addition to this amount, the Executive also has a $25 million line available to allow the targeted companies to import equipment, products, and other goods.
Financing authorization must be completed within 20 days of receiving the loan application and all supporting documents.
With an annual 5% interest rate, the loan has a nine-month grace period.
The relief measures, contained in Presidential Decree No. 150/25 of August 4, also include the priority refund of 100% of VAT to affected companies, and 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.
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