Because of covid-19, the programme had to be readjusted in September 2020 and the continuity strategy was created. "The focus is no longer on professional training to give more space to job creation," can be read in a statement published on the Government portal.
However, he stressed that despite the negative impact caused by the pandemic, more than 1900 young people are already benefiting from PAPE - launched in October 2019 - and it was positive: "We have faith that we will reach the goal of 83,500 jobs".
He also made it known that under the microcredit program, "1124 entrepreneurs have already been covered and more than 800 are already benefiting from this program, which also includes them in Social Security.
The goal of this action is to reach more than 10,000 young people, each of whom can benefit "from 1,000 dollars (converted into kwanzas) up to a value equivalent to 14 million kwanzas. This maximum amount is available only to associated entrepreneurs".
Repayment to the bank begins after three months free of charge, "with interest rates assessed at 1.67 percent per month.
The program also provides that "selected applicants, aged between 16 and 25 years and, exceptionally, up to the age of 35," do not need to give any kind of guarantee to have access to support.
"There is only an agreement signed between INEFOP and Banco Sol to finance this type of project. What is guaranteed is that the target public receives training and acquires skills to manage the business. The bank does its risk assessment and takes the measures it deems convenient," explained Manuel Mbangui, indicating that "it is the bank and not the state that gives the money.
Along with age, the candidates must fulfill a set of requirements: they must "be unemployed, have training and a need to obtain equipment and tools for the exercise of an activity that generates employment and income", among others.
According to the person in charge, the "employability mechanism prioritizes, to a certain extent, young women, rural population, people with disabilities and other vulnerable groups".
Interested parties may apply through the PAPE portal.
"Public officials cannot apply. We make an exception to those who, even being in this category, already have their business. Who will start the business cannot be someone already employed in the public sector", explained the general manager of INEFOP.
In addition to vocational training and employability, the program also contains a professional internship component for young people who have benefited from vocational training.
You can learn more about the program here.
