Around 50 percent of the financing from the Programme to Support Production, Export Diversification and Import Substitution (PRODESI), between 2019 and 2024, in Angola, was granted to companies in the Manufacturing Industry. The data is part of the PRODESI balance report, covering the period from 2019 to 2024, recently presented in Cabinda by the National Director of Economy and Business Development.
Alan Varela also stated that, in the same period, the Agriculture sector benefited from 26 percent of the financing, while the Extractive Industry received ten percent.
In total, 6,301 projects were approved and financed, positively impacting the creation of several direct jobs.
Between 2023 and 2024, PRODESI made available around 1.5 billion kwanzas in the country to finance projects in the productive sector.
The official said that the financing provided by PRODESI has generated value for the national economy, as it is contributing to the reorganization of the productive sector and the increase of domestic production.
Financing
The financing, he said, was provided through credit lines from the Angolan Venture Capital Active Fund (FACRA), the Agricultural Development Support Fund (FADA), and Notice No. 10 of the National Bank of Angola, which regulates the granting of credit to the real economy sector.
The National Director for Economy and Business Development, Alan Varela, highlighted that, of the total financing granted, Notice No. 10 from the National Bank of Angola (BNA), operated through commercial banks, financed a total amount of 1.2 billion kwanzas.
Other financing came from FACRA, Deutsche Bank, a special financing line from the Angolan Development Bank (BDA), and the Economic Relief line of the same institution.
He explained that, out of the total projects approved and financed by PRODESI, around 4,000 have credit guarantees issued by the Credit Guarantee Fund (FGC).
“Of the 6,301 projects approved under PRODESI nationwide, the province of Cabinda accounts for 122 value chain projects, validated with a total amount of 8.2 billion kwanzas.”
Source: Jornal de Angola
