The agribusiness sector consumed 80% of the amount financed by Fundo Activo de Capital de Risco Angolan (FACRA) from 2020 to 2023, through the Informal Economy Reconversion Programme (PREI).
The information was released by the secretary of State for the Economy, Ivan dos Santos, at the usual briefing of the Ministry of Economy and Planning (MEP).
He said that in light of Decree 98/20 on economic relief measures, FACRA financed 5,372 projects, worth 5.3 billion Kwanzas, while 4 billion kwanzas (80%) addressed to agribusiness and 20% to other sectors.
Ivan dos Santos said that this microcredit component reached the entire national territory, with Luanda having a “greater tendency, depending on the characteristic, with 1,108 projects having been financed, the equivalent of 2 billion kwanzas, generating 7,816 jobs.
“The credit was managed by the microcredit agencies, there is a disparity between funding for men and women, mostly women, especially young people”, he said.
According to the Secretary of State, the target is to reach 11,500 projects in the near future, and resources to finance these projects are being mobilised.
“The PREI’s new guise is aimed at accelerating and opening companies. At the moment, in the PREI process, we are covering agents who have been formalised with access to microcredit. Carry out a survey of those who were formalised and who were not entitled to micro credit”, he reinforced.
PREI is the Programme for the Reconversion of the Informal Economy designed by the Government of Angola to promote the Transition from the Informal Economy to the Formal Economy.
The Formalisation Process is coordinated by the MEP and implemented by an inter-sector team
Source: Angola Press News Agency