In its 16th month since its launch, PAME has proven to be a functional model for financing startups, one of the few with tangible results at the country level, says a statement sent by the entity responsible to VerAngola.
By the end of June 2023, the program recorded a repayment rate of 74 percent of the total financed, in line with expectations, taking into account that the end is scheduled for March 2024 and there are still repayments to be made.
One of the main objectives of the program is to facilitate the process of formalizing the initiatives and, currently, 65 percent of the initiatives are duly formalised, says the document. The formalization of initiatives is of great importance, because, on the one hand, it represents the broadening of the tax base in favor of the State and greater protection of workers through social security and, on the other hand, it opens up access to other services for the respective initiatives and resources.
The document also mentions that, as customers regularize their financing, they will be graduated to the traditional KixiCrédito products, which means access to microcredit of up to 7 million kwanzas.
The Microentrepreneurship Support Program was created with the aim of creating and boosting income-generating initiatives led by young Angolans, with the basic aim of promoting self-employment.
Funded by the European Union, it was launched by RETFOP (Project for the Revitalization of Technical Education and Vocational Training), with the support of INEFOP (National Institute for Employment and Vocational Training), in partnership with KixiCrédito, within the scope of materializing a product of Microcredit aimed at Startups.
