Ver Angola


Banking provides 17 billion kwanzas for domestic goods production

The Angolan commercial bank approved eight projects related to the internal production of goods, valued at 17 billion kwanzas, under the scope of the Credit Support Project (PAC), was released.


The eight projects already approved are related to the food and beverage industry, the manufacturing industry and sea fishing, namely in the provinces of Luanda, Benguela and Namibe.

Banco Angolano de Investimentos (BAI), Banco Internacional de Crédito (BIC) and Banco de Poupança e Crédito (BPC) were the three banks responsible for approving and making credit available for these initiatives.

The data are contained in the balance sheet report of the Production Support, Export Diversification and Import Replacement Program (Prodesi), released today by the Ministry of Economy and Planning.

According to the balance sheet of the two years of Prodesi implementation, in the first half of 2020 46 projects were submitted to banking, totaling 90.2 billion kwanzas.

The PAC, inserted in Prodesi, applies to investment projects that contribute, directly or indirectly, to the internal production of goods, and is available to support a set of 16 types of operations related to the 54 priority products in the basic basket ( essentially food).

Among the financial instruments to support Prodesi, the report highlights the notices of the National Bank of Angola (BNA) of 2020 and a financing line from Deutsche Bank, the amount of which is domiciled at the Development Bank of Angola (BDA).

The report notes that BNA Notice 10/2020 applies to the granting of credit by bank financial institutions, for the production of essential goods that present deficits in the supply of domestic production, the raw material and the investment necessary for production .

The bank aggregate presented on December 31, 2019 net assets worth 5.25 billion kwanzas, representing 39.75 percent of total assets.

Under the central bank's warning nº10 / 2020, the minimum credit limit to be granted by banks until the end of 2020 is 131.355 billion kwanzas, corresponding to 2.50 percent of total net assets.

Prodesi, approved on July 20, 2020, aims to accelerate the diversification of national production and generate wealth for a set of products with greater potential for generating export value and import substitution.

Prodesi domains. Food and agribusiness, mineral resources, oil and natural gas, forestry, textiles, clothing and footwear, construction and public works, information and telecommunications technologies, health, education, training and scientific research, tourism and leisure.

Increasing the production and sales volume of the priority sectors, accelerating diversification and enhancing national comparative advantages, reducing the expenditure of exchange resources with the basic basket and increasing and diversifying exchange sources are some of the central objectives of the program.

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