Angola’s Credit Guarantee Fund (FGC) is targeting a minimum of 2,000 guaranteed projects in Huambo province in the near term, as the institution steps up its support for domestic production and economic diversification, the fund’s chairman said on Thursday.
Luzayadio Simba made the announcement to reporters at the close of a working visit to productive enterprises in the province, during which he assessed the local manufacturing and agribusiness landscape. He highlighted agricultural and livestock projects — including avocado production and egg farming — developed by the company Agripina as positive examples of the fund’s impact.
Since 2012, the FGC has backed 76 small and medium-sized enterprise (SME) projects in Huambo, generating an estimated fund exposure of 15 billion kwanzas and enabling approximately 21 billion kwanzas in bank financing, Simba said.
In the microcredit segment, the FGC has supported around 2,900 microprojects across the province, with the chairman stressing that significant scope remains to grow both figures.
‘The challenge we set ourselves is to reach at least 2,000 guaranteed projects in Huambo province — in agriculture, livestock and agro-processing — given the importance of transforming locally what is produced here,’ Simba said.
He also highlighted the ‘Transforma Aqui’ executive programme, which is designed to support local agro-processing ventures. Entrepreneurs can access FGC guarantees to obtain commercial bank credit under the scheme.
Assessing the trajectory of Agripina — whose partnership with the FGC dates to 2014, when it was supported under the now-defunct Angola Investe programme — Simba praised the resilience of private promoters in the face of economic headwinds and foreign exchange scarcity experienced over recent years.
‘We are looking at a resilient business that started in 2014 with just one production unit and today operates a large-scale infrastructure, establishing itself as a benchmark egg producer for the Centre-South region of the country,’ he said.
Turning to investment along the Lobito Corridor, Simba drew attention to the Diversifica Mais credit line, which is specifically designed to accelerate projects located along that strategic transport and economic corridor.
The FGC has already guaranteed 50 projects along the Lobito Corridor, with a total fund exposure exceeding 30 billion kwanzas, the chairman noted.
He added that approximately US$48 million in capitalisation has been made available to the FGC to reinforce support for investors along the corridor, which Angola is positioning as a key driver of regional logistics and economic integration.
Source: ANGOP / Original article: https://www.angop.ao/noticias/economia/fundo-de-garantia-de-credito-quer-alcancar-mais-de-dois-mil-projectos-de-producao-nacional/
