The National Institute for the Support of Micro, Small, and Medium Enterprises (INAPEM) and the International Finance Corporation (IFC) signed a cooperation agreement on Thursday in Luanda, enabling the implementation—over a two-year period—of the Technical Assistance Project for the Development of a Regulatory Framework to Support the Startup Ecosystem in Angola.
The agreement, signed by INAPEM Chairman Bráulio Augusto and IFC representative in Angola Roland Yameogo, primarily aims to prepare and draft Angola’s future Startup Law. The memorandum will serve as a model to strengthen, develop, and grow the country’s startup sector.
Following the formal signing of the agreement, the draft law will be submitted for public consultation during this quarter. The one-month consultation will gather input from public and private institutions, academia, and entrepreneurs, offering them the opportunity to engage and contribute to shaping elements that will reinforce and support the overall ecosystem.
Secretary of State for Trade and Services Augusta Fortes acknowledged that the project comes at a pivotal moment for the country, as the government is actively pursuing economic diversification under the 2023–2027 National Development Plan (PDN).
One key step, Fortes highlighted, is the creation of a specific legal framework for startups. In her view, many innovative companies have been founded by young people who lack legal recognition, which hinders their growth and limits access to various market opportunities.
INAPEM Chairman Bráulio Augusto stated that once the public consultation process concludes, the document will be forwarded to the government to follow the necessary legal procedures before being submitted to the National Assembly for approval.
The project is funded by the European Union and will enable a technical review of the draft Startup Law.
IFC representative Roland Yameogo affirmed that the institution has $300 million available to support employment-related projects in Angola.
“Through this project, the IFC and its partners will assist INAPEM in developing a legal and regulatory framework,” he said.
Source: Jornal de Angola
