Ver Angola

Banking and Insurance

Businesswoman criticizes bank for looking at agribusiness as a “stepchild”

An agribusiness businesswoman criticized the bank, which still looks at the sector as a “stepchild”, and pointed to financing, the legalization of land for cultivation and the availability of seeds as obstacles for the sector.

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“Yes, the banking sector still sees agribusiness as a stepchild that it does not like, because due to the situation we have been indoctrinated to think that agribusiness is a negative thing, something for the poor, something that does not have much value”, he replied. Paula Bartolomeu à Lusa.

For the businesswoman, despite agribusiness “beginning to take the first steps towards the diversification of the economy”, the sector still faces “enormous challenges”, with financing and the legalization of land for cultivation “as the main ones”.

“Then we have other issues here, such as the availability of machinery, seeds, fertilizers, everything has to be imported, we have a floating exchange rate, we have import fees, but this type of import should be completely tax-free”, she defended.

Speaking on the sidelines of the III Angolan Congress of Banking Law, where she spoke about “Bank Credit to Agribusiness”, Paula Bartolomeu said, however, that the sector is now beginning to be seen with some interest.

“We have already started to feel that there is some interest not only from the commercial operators, but also from the executive himself in making this happen, today we already see good signs that he wants to make it happen”, she pointed out.

According to the businesswoman and founder of Fazenda Maravilhosa, in order to boost the sector, Angola must focus on the “professionalization of agribusiness”, and even introduce the subject in the school curriculum, “since it is a way of life”

“We have to change the mentality that agribusiness is for the poor and disgraced, and the State can do this by introducing this theme as a curricular subject at school, to show that it is possible to have a successful career there too”, he stressed.

She also reinforced the need for the country to invest heavily in the sector, to reduce the import of food products, as she understands that investment in agriculture "is a matter of State security".

“[In the situation] we find ourselves in today, because we live off the ship, where most of what we eat comes from abroad, that's where they make the country sick, so it's State security”, she stressed.

“So, we must have the capacity to produce domestically, mainly by Angolans. Without neglecting foreign investment, but it is necessary to have control over what we eat”, concluded the agricultural businesswoman.

The 3rd Angolan Banking Law Congress, which brought together several banking specialists and different economic operators in Luanda, was organized by Altafinança – an Angolan financial consultancy company.

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