Banco Jovem e Mulher will facilitate and accelerate access to entrepreneurship – Prime Minister

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Banco Jovem e Mulher will facilitate and accelerate access to entrepreneurship – Prime Minister
Banco Jovem e Mulher will facilitate and accelerate access to entrepreneurship – Prime Minister

Africa-Press – Cape verde. The Prime Minister today presided over the launch of Banco Jovem e Mulher, an “innovative instrument” that will “facilitate and accelerate” the process of financing entrepreneurship and “foster the business environment”.

According to Ulisses Correia e Silva, this is an “innovative and relevant” initiative that will make the financing process “faster”, thus allowing any young entrepreneur, from Santo Antão to Brava, to make their request, as long as they have a mobile phone connected to the Internet.

“It is a bank that will be 100% digital, which will allow everything from the credit application to the decision and monitoring of the credit to be done through IT, electronic and digital means, meaning that the beneficiary or entrepreneur can have all the information and can follow your request process”, said the head of Government.

The same source also said that the vision of this program is to ensure that the entire process is “faster, more agile and with less bureaucracy” and to ensure that the contractual conditions regarding the guarantees that are assumed by the State, regarding the bonus, are also met.

In the same vein, he said that the idea is to enable these entrepreneurs to create businesses, self-employment and income, and manage their lives with the advantage that this entire system will be easily financed, through taxation that is also “much more favorable”. than it would be outside this program framework.

“We are going to work with the banks that already exist, we are going to take advantage of the financial institutions and enter into contracts with them to join this program”, pointed out Ulisses Correia e Silva, who assured that the Government will increase the volume available for microcredit – credit to small and medium-sized activities, and for companies.

Banco Jovem e Mulher will simplify the financing access process by bringing together all financial and non-financial services on a single electronic platform, as a “facilitating tool” for accessing the financing ecosystem.

To access the bank’s financing line, the minimum amount is 150 thousand escudos and the maximum is five million escudos, with an interest rate of no more than 5.5% per year, with a grace period lasting a maximum of six months..

The entrepreneur must have a guarantee via a signed promissory note and registration of movable assets on the platform, the maximum financing rate is 95%, and the equity cannot be less than 5%, with a repayment period of up to 60 months, counting on the six months grace period.

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