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Government launches National Employment Fund worth 500 million dollars

The Government launched, this Tuesday, the National Employment Fund of Angola (Funea), worth 500 million dollars, to create and support projects of public and private initiatives that generate employment. According to the Minister of State for Economic Coordination, José de Lima Massano, FUNEA will benefit cooperatives through financing or incentives for lost funds.

: Facebook Governo da Província de Luanda
Facebook Governo da Província de Luanda  

José de Lima Massano stressed that FUNEA is the financial arm of the National Employment Agenda and was created with the aim of ensuring the allocation of financial resources for the promotion of employment, including the insertion of recent graduates and unemployed citizens into the job market.

The Minister of State for Economic Coordination stressed that the National Employment Agenda establishes the guidelines for coordinated action by the various stakeholders, both public and private, in the area of ​​promoting employment, with a view to reducing the unemployment rate in the national economy, currently at 32.4 percent.

In turn, the Minister of Public Administration, Labour and Social Security (MAPTSS), Teresa Dias, said that the institutionalisation of Funea has at its disposal a set of financial assets, essentially term and demand deposits, intended to create public and private projects and initiatives that generate employability and jobs.

Teresa Dias highlighted that, with the launch of this fund, the National Institute of Employment and Vocational Training (INEFOP) will submit local employment and labour market integration contracts for immediate approval by Funea, an initiative in partnership with the Ministry of Territorial Administration, which aims to promote employability through social, community and economically useful work for society.

"For example, a group of five or six young people, aged between 18 and 40, gathered in cooperatives, may enter into contracts lasting 180 to 360 days with municipal and communal administrations to provide local development services, the activity of which is economically and socially viable", she said.

According to the minister, five types of cooperatives were identified in this first phase, such as solid waste collectors; land rights licensors; road maintenance; gutter cleaning; curb painting; tree pruning and treatment; collection and treatment of abandoned animals; solid waste transfer points; gardening and recreational parks.

During the ceremony, an agreement was signed between Inefop and the Ministry of Territorial Administration, which marked the conclusion of the first package of initiatives to be submitted for approval by the strategic committee of the aforementioned fund.

Speaking to the press, Teresa Dias said that the fund will have allocations to be incorporated, depending on the possibilities that the General State Budget has, with an expected allocation of 500 million dollars.

"At the moment, it is operational with a capitalization of six billion kwanzas, but in the coming days we will have the entry of some more amounts from the treasury's ordinary resources, we will be talking about around six billion kwanzas", she said.

The minister stressed that, at the moment, Funea is being managed by the National Institute of Social Security, the usual manager of resources to support the promotion of employability, and will later be managed by a supervisory committee, which will include representatives of the unions, the Ministries of Finance and Planning and other bodies.

"We will then have the monitoring and supervision to be able to have transparency and, above all, the good management exercise that we all desire", she stressed.

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