Young entrepreneurs receive micro credit

Young entrepreneurs receive micro credit
Young entrepreneurs receive micro credit

Africa-Press – Angola. Forty-eight young entrepreneurs, from the province of Lunda Sul, have benefited from micro credits, since the start of the program in 2020, financed by Banco Sol, under the Action Plan for Employability (PAPE), aiming to boost their business .

Speaking this Tuesday, the director of Provincial Services of the National Institute of Employment and Vocational Training (INEFOP) in Lunda Sul, Constantino António, said that the beneficiaries are part of a total of 400 young people who applied for funding, to develop their commercial activity.

Each beneficiary received Kz 300 to 350 thousand, depending on the projects presented to the entity that finances the PAPE.

The person in charge recognized that the number of beneficiaries is very small, judging by the request made and the length of the process by the Banco Sol partner that finances the project.

He explained that INEFOP has only the responsibility of promoting training and proceeding with registrations, to later send them to the bank that analyzes the candidates’ files and selects those with necessary requirements.

On the other hand, Constantino António said that, in terms of reimbursement, the beneficiaries have complied with the contractual deadlines, with three out of the 48 paying off their debt and requesting another loan again.

For his part, Domingos Nunes, 47 years old, a carpenter benefiting from a micro credit in 2022, worth Kz 300,000, said that, despite being a low amount, it helped in the acquisition of raw material that boosts his activity.

He explained that the amount he collects in the carpentry activity solves the family’s problems, as well as building his residence, as well as monthly disbursements to Banco Sol 32 thousand Kwanzas.

Juvenal Sérgio, 29 years old, tailor, beneficiary of 320 thousand Kwanzas in 2022, says that the amounts now received allowed him to advance his tailoring, acquiring raw materials such as fabrics, thread, lining, among others.

“With this business, it has allowed two more young people to be employed, as well as three interns, who help in the workshop”, he emphasized.

He recognized that the activity he develops has managed to solve many problems, from the acquisition of land and the construction of a canteen, among other situations, with a view to increasing the monthly income.

He said that he started working as soon as he finished training at INEFOP, in 2013.

He rented the means of work and carried them out in the Kandembe market, where he got values, to buy seven sewing machines and open his tailor shop in 2020.

He appealed to the law bodies to increase the values ​​of micro credit, because the current ones are tiny to help catapult the business, as it augurs to create a training centre.

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