Ver Angola

Banking and Insurance

BAI approves financing line of 10 billion kwanzas for young people

The Angolan Investment Bank (BAI) announced the conclusion of a cooperation protocol with the National Youth Council (CNJ) which aims to guarantee the empowerment of young people through entrepreneurship based on national production, in sectors such as agriculture, fisheries, aquaculture, beekeeping and livestock.


In this way, BAI provides a financing line in the amount of 10 billion kwanzas, which will be operated through the PAC Express credit product, without charging any commissions and with a maturity of up to 144 months, which will allow financing for the acquisition of equipment and/or other investment components, necessary for launching or developing a business.

According to a statement from the bank that VerAngola had access to, the protocol also provides for an internal scholarship program for young people with high potential, as well as creating more advantageous conditions for joining the BAI Banking Agent service, allowing young people to fulfill the requirements, the commercialization of the bank's products and services in its commercial establishments.

The President of the National Youth Council, Isaías Calunga, said that “this contribution from BAI will allow the CNJ to implement the Youth Program to Support National Production PROJAPRON and the Integrated Program for the Development of Transport Cooperatives PIDECOOP, helping to create more posts of work for young people, without bureaucracy and in more advantageous conditions”.

The President of the Executive Committee of BAI, Luís Lélis, referred that “the bank has a serious commitment to supporting the diversification of the national economy, as well as to the creation of sustainable employment for young people, and that this is the main objective of the protocol, create opportunities for young people, and contribute to the Angolan economy continuing to grow and to be increasingly competitive and sustainable”.

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