Covid-19: Angolan companies sign memoranda for access to finance

According to the chairman of the board of directors of the National Institute of Support to Micro, Small and Medium Enterprises (INAPEM) in Angola, Anito Agostinho, of the more than 1,900 companies that applied to buy from national producers, 120 have already been determined.

The Angolan Government has available a credit line from the Development Bank of Angola (BDA) of 17.6 billion kwanzas (about 30 million euros) to finance the purchase of commercial and distribution operators from national producers of products such as corn, manioc, wheat, rice, sugar, kale, potatoes, among others.

Today, the Angolan Ministry of Economy and Planning, represented by INAPEM, started, in Luanda, the symbolic act on the formalization of the granting of credit that should extend throughout the national territory.

“We have already presented the operational mechanism for the concession and we are now formalizing the granting of credit,” said Anito Agostinho today at the end of the signing ceremony of the memoranda with the operators.

In addition to signing memoranda with trade and distribution operators, INAPEM also invited 10 companies that in the process will support producers with the supply of raw materials such as seeds, pesticides, fertilizers, among others.

“These are the companies that will place in the country the availability of the products that producers need in terms of seeds, pesticides and fertilizers. We currently have about 10 companies that have joined our program”, explained the official.

For the import of raw materials, there is a line of credit domiciled at the Bank of Savings and Credit (BPC) of 68 billion kwanzas (106 million euros).

The initiatives fall within the scope of the implementation of the economic relief measures approved by the Angolan Government, on April 9, to “mitigate the impact of the negative effects” of the pandemic on the Angolan economy.

Raul Mateus, chairman of the board of directors of the modern food marketing and distribution company, valued the initiative of the Angolan Government considering that it is important to “empower the national producer”.

“And if there is no capital at a time like this it becomes more difficult, this will stimulate national production because the distribution will buy from the national producer and will stimulate their investment capacity to increase their crops,” he told reporters.

The representative of Biocom Angola, a bioenergy company, Luís Gordílio, told Lusa that the Government's initiative will contribute to the “promotion and growth of domestic production”, guaranteeing to supply the surplus of its production of dolomitic limestone to farmers.

Angola has 60 confirmed cases of covid-19, namely 39 active cases, 18 recovered and three deaths.

The country is undergoing a third extension of the state of emergency that extends until May 25.

In Africa, there are 3,089 confirmed deaths, with more than 99,000 infected in 54 countries, according to the most recent statistics on the pandemic in that continent.

Globally, according to a report by the AFP news agency, the covid-19 pandemic has already claimed more than 330,000 deaths and infected more than five million people in 196 countries and territories.

More than 1.8 million patients were considered cured.


Covid-19 content: Angolan companies sign memoranda for access to finance appears first in Visão.

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