Ver Angola

Banking and Insurance

Banco Caixa Geral and Credit Guarantee Fund sign agreement to support micro businesses and SMEs

Banco Caixa Geral Angola and the Credit Guarantee Fund signed an agreement for credit guarantees of up to 200 million kwanzas for micro, small and medium-sized businesses, the institutions announced.


According to the administrator for the business area of the Credit Guarantee Fund (FGC), Eduardo Mohamed, cited in a statement to which the Lusa agency had access, this financial instrument will allow the automatic approval of the public guarantee in sectors related to food security, fishing , livestock and industry.

Eduardo Mohamed highlighted that priority will also be given to projects in which a large percentage of women are involved.

In turn, the director for large companies and oil at Banco Caixa Geral Angola (BCGA), Mariano Ferreira, explained that, “the agreement with the FGC will enable the banking institution to also support projects in the tertiary sector of the economy, in addition to the primary and secondary.”

Mariano Ferreira highlighted that the aim is to complete the value chain of projects in the primary and secondary sectors of the economy, already supported by the bank.

He also highlighted that the agreement between financial institutions provides support for microcredit in the maximum amount of 200 million kwanzas, with a guarantee of up to 50 percent risk coverage by the FGC.

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