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Politics Official visit of the Portuguese Prime Minister

CCIPA says Portuguese companies need new financing models in Angola

The president of the Portugal-Angola Chamber of Commerce and Industry (CCIPA) defended, this Monday, new financing models for Portuguese companies in Angola, including SMEs, which allow them to contribute to the diversification of the Angolan economy.

: Lusa
Lusa  

João Traça, who was speaking to Lusa on the sidelines of the 7th Angola - Portugal Business Networking Meeting, on the eve of the visit of the Portuguese Prime Minister, Luís Montenegro, hoped that the arrival of the head of the Portuguese Government to Angola would also be the beginning of a new cycle that allows us to improve what is right in business relations between Portugal and Angola and create more dynamism in economic relations between the two countries.

The head of CCIPA admitted that not everything is perfect and that more financing is needed for Portuguese companies to be able to build more relationships with Angolan companies in different sectors.

"Only in this way will they be able to make a contribution to the diversification of the Angolan economy, which is perhaps their greatest aim", he added.

He highlighted that "more imagination is needed in terms of financing to create different solutions for different needs", particularly in long-term projects involving industry, in addition to the development of infrastructures, and it is necessary to create new financing models.

"The current ones can respond to many challenges, but they cannot respond to all of them", he highlighted, suggesting that it is "necessary, for example, to give incentives to projects developed by SMEs" that are part of the structure of Portuguese companies that are in Angola.

"We need to think about them to give them the right support," he told Lusa.

The Portuguese ambassador to Angola, Francisco Alegre Duarte, followed the same line in his speech, highlighting the importance of the financing line and the importance of diversifying, to go beyond public works and invest in agriculture, tourism and professional training.

The diplomat stressed that Luís Montenegro's three-day visit has a "strong economic component" and is demonstrative of the continuity of relations between Angola and Portugal "and their strategic nature, which is not altered in the slightest by the change of power".

There are around 1250 Portuguese or mixed capital companies present in Angola, from all sectors of the Angolan economy.

Francisco Alegre Duarte considered that this has been a challenging year, due to exchange rate instability and a shortage of foreign currency that have an impact on companies' operations, but highlighted that "Angola is a worthwhile bet".

The president of CCIPA also spoke about the difficulties for companies and pointed out the cycle of the Angolan economy, "which is not growing at the pace that would be ideal", adding that "it takes time to grow at those rates again".

Organized by CCIPA, the meeting is aimed at Portuguese and Angolan businesspeople and aims to promote rapprochement between businesspeople from both countries, "providing contacts that could lead to the formation of solid partnerships", says the organization in a statement.

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