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Industry

Microcredit cooperative aimed at supporting small entrepreneurs will be launched in June

A microcredit cooperative aimed at supporting small entrepreneurs in the country will be launched in June. According to Adilson Neto, president of the Angolan Youth Business Council (CEJA), the process of launching the cooperative, called Credit Cooperative for Small Business Owners (COPEM), is already in its final stage.

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Speaking to Jornal de Angola, the official explained that at the time of granting the financing, the beneficiaries will be accompanied by a manager provided by CEJA.

Adilson Neto made it known that this manager will monitor the completion of the project, with a view to reducing the risk of bankruptcy with regard to the repayment of capital: "An entrepreneur becomes mature after two or three years of project execution, and knowing the commercial sector better, the possibility of bankruptcy is very low, hence the usefulness of the transfer of the manager", he said.

He added that the managers who will accompany the beneficiaries are already undergoing training, coming from various universities, training centres, specialists in business administration and management, among others, writes Jornal de Angola.

The official also informed that COPEM will be privately managed, in accordance with the Cooperatives Law in force in Angola.

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