In a statement sent to VerAngola, the SBA clarifies that the "memorandum of understanding to boost sustainable and inclusive growth" of MSMEs in the country is "based on three strategic pillars: development of business capabilities, promotion of market access and economic diversification, and support for access to financing".
In this sense, the note says, the memorandum "provides for the creation of training programs for entrepreneurs with practical and specialized knowledge, the creation of commercial bridges and the stimulation of local production, to support MSMEs to diversify their activities, reduce dependence on imports and actively contribute to the economic transformation of Angola, and also the creation of financing solutions adapted to these companies, offering access to credit with agility, trust and responsibility".
On the occasion, Luís Teles, CEO of SBA, expressed his satisfaction with the establishment of this partnership: "It is with great satisfaction that we enter into this strategic partnership, which reflects our purpose: Angola is our home and we promote its growth. SBA currently has more than 650 billion kwanzas in credit granted to companies, of which 140 billion were granted to Small and Medium Enterprises (SMEs), and is today one of the banks that grants the most credit to the real economy".
According to the CEO of SBA, "this credit portfolio has a zero default rate", revealing that "there are good companies and good businesspeople in Angola, concerned with creating jobs, and compliant, honest and motivated entrepreneurs, who believe in Angola and want to make Angola grow. It is with these companies and entrepreneurs that we want to work".
"We need to support these companies so that they can continue to grow in a controlled, sustainable and responsible manner. With the right skills and constant monitoring, these companies have the potential to help the country accelerate economic diversification. These companies can also become regional champions in Africa," he added, quoted in the note.
Braúlio Augusto, Chairman of the Board of Directors (PCA) of INAPEM, highlighted that this partnership is "aimed at strengthening the national business community, particularly MSMEs, a segment that continues to play a key role in the diversification of the economy and in job creation."
"SMEs are not just a segment of the economy, they are its lifeblood. In Africa, SMEs represent around 90 percent of all companies, contribute to more than 50 percent of employment and are responsible for more than 40 percent of GDP in emerging economies," highlighted Andrew Mashanda, Director for Africa of Small and Medium Enterprises and Offshore at Standard Bank Group, who was present at the signing ceremony of the memorandum.
"In Angola, this SME sector is fundamental to the economic diversification strategy, especially as the country aims to reduce its dependence on oil and build a more inclusive and sustainable economy," said Mashanda, emphasizing that the memorandum "is more than a ceremonial gesture, it is a reaffirmation of our commitment to supporting local production, reducing dependence on imports and contributing significantly to the creation of new jobs."
Fernando Chivinda, executive director of SBA's Small and Medium-sized Business Banking, spoke about the service line they have exclusively dedicated to MSMEs. "Our value proposition is clear and robust. As a partner bank, we maintain a customer focus, with a specialized team dedicated exclusively to the MSME segment. We offer an exclusive service line – PME ONLINE –, available seven days a week, from 8 am to 8 pm, to support entrepreneurs with proximity, agility and knowledge," he explained.
"In order to respond to the real needs of companies, Standard Bank also has products available such as Flexi Credit, an innovative product that provides up to 200 million kwanzas without the need for real guarantees, Invoice Discount, a short-term solution that helps maintain companies' liquidity in the most critical moments, also without real guarantees, as well as Financial Leasing, ideal for the acquisition of vehicles and equipment essential to the operation of businesses, in which the guarantee is the equipment or the vehicle", the note reads.
However, according to Fernando Chivinda, the bank goes "beyond the financial product". "But we go beyond the financial product. Our commitment is to the effective connection between small and large companies, in the national territory and regional markets, creating opportunities for integration in value chains and expanding the capacity of our MSMEs to operate", said Fernando Chivinda.
