Kenny Nwosu, CEO of Norsad Capital, explained that the agreement foresees the "sharing of possible transactions that contribute to the maximization of business flows".
"Essentially, our agreement foresees the sharing of possible transactions that contribute to the maximization of business flows. Each of our institutions has its own experience and financing models", he said, quoted in a statement sent to VerAngola.
"The Government of Angola recognizes that the country must diversify its economy and become less dependent on oil production. This is where the greatest opportunities lie for us as financiers – the SME sector can make an important contribution to diversification of the economy. In addition to the various benefits, it will be useful for us to have a partner on the ground in Angola who has local knowledge and can provide us with information, for example, about a company located in the country with which we are considering doing business", adds Nwosu.
Arsénio Satyohamba, executive director of the BDA, acknowledged that they share common objectives with regard to the development of the country's private sector: "We recognize that we share common objectives in terms of developing the private sector in Angola, and that is what drives our decision to collaborate".
Under the terms of the agreement, both parties will share "contacts for potential business", as well as "help each other in realizing possible business opportunities", indicates the note, which adds: "A particularly important element of this cooperation is that the parties promise to support each other in further promoting the role of the private sector in economic growth".
"Both financial institutions are focused on providing the necessary capital for companies, which can be used to promote economic growth and improve the lives of the population on the African continent", reads in the statement.
