According to a statement sent to VerAngola, the OCIF will be available to national entrepreneurs from next Tuesday.
"This initiative is promoted by the government of the Kingdom of the Netherlands and will be implemented in Angola by the Development Workshop Angola and KixiCrédito consortium. OCIF is a complementary fund to the Orange Corners incubation and acceleration program, created with the aim of boosting start-ups, facilitating access to essential financial resources for its growth and development between 2024 and 2030", says the note.
Thus, OCIF will benefit around 180 projects by young entrepreneurs, providing subsidies of up to 40 percent, as well as financing of up to 60 percent "for each promising venture".
Furthermore, the statement adds, the fund makes available "several features that facilitate entrepreneurs' access to financial resources, such as guarantee funds and obtaining credit from formal banks".
This project, which will extend until 2030, will directly benefit two provinces in the country, namely Luanda and Huambo, "promoting economic growth and the development of young Angolan talents".
The fund, "committed to the formalization and sustainability of initiatives", aims to reduce the "failure rate of benefiting projects, creating a safer and more conducive environment for innovation and entrepreneurship".
