Ver Angola

Banking and Insurance

Credit granted by the SBA to the market represents direct support for the creation of more than 6000 jobs

Standard Bank Angola (SBA) was responsible for 26 percent of all credit granted to the market, under Notice 10/20 of the National Bank of Angola (BNA), representing direct support for the creation of 6144 jobs.

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"With regard to credit granted to the market by Standard Bank Angola under Notice 10, 189,249,426.78 kwanzas were approved and 158,435,995.09 kwanzas were disbursed. Of the credits approved and disbursed by this banking financial institution, 35 are projects financed by the SBA and 20 are financed projects proposed by the BNA", reads a statement sent to VerAngola.

The note also notes that the companies financed by the bank are located in Kwanza Norte, Kwanza Sul, Benguela and Namibe, with the majority belonging to the food industry sector (43 percent), followed by the manufacturing industry (32 percent), agriculture (21 percent) and fisheries and aquaculture (four percent).

"In terms of the production of products by sector, motivated by the credits granted by the SBA to each of the companies, coffee, corn, poultry and soy in agriculture, soap, detergents and packaging in the manufacturing industry, and milk, beverages, wheat flour, cooking oil, pasta and sausages in the food industry", the note adds.

Of the 6144 jobs created, 2655 are in the food industry, 2527 in the manufacturing industry, 822 in fisheries and aquaculture and 140 in agriculture.

Carolina Remisio, Executive Director of SBA's Corporate Banking, mentioned in the note, made it known that "some of the main challenges" they had in making the loans "were through the difficulty in identifying borrowers who presented viable projects from the banking point of view, with adequate levels of risk, the existence of few short-term projects 2/3 years, lack of support for the import of raw materials, limitation on borrowed amounts, among others".

The official, in a "reflection on the ideal format to support credit to the real sector of the economy" pointed out a package of ideas and perspectives, including "ensuring the extension of the program for a longer period, as well as the inclusion of critical sectors such as Health, Housing and Logistics", ensure "the financing of the product ecosystem throughout the value chain, from the raw material to the final consumer" as well as "training programs for small producers; limit the financing of certain products to avoid saturation in the market and guarantee the success of the financed projects", among others.

The notice from the BNA concerns the granting of credit by banking financial institutions, "for the production of essential goods that present deficits in the supply of national production, the raw material and the investment necessary for their production, including investment in the acquisition of technology, machines and equipment".

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