Fri, 29 May 2020 15:52 - Updated Fri, 29 May 2020 15:44
Lack of financing hampers business activity
Menongue - The lack of funding and bureaucracy in processing documents for the legalization of companies at National Institute of Small and Medium-Sized Companies (INAPEM) have been the main difficulties faced by young entrepreneurs in eastern Cuando Cubango, said Thursday the coordinator of young entrepreneurs, Domingos Luanda.
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Domingos Luanda disclosed the information to ANGOP at the end of the signing of the memorandum of understanding between INAPEM and local companies, as part of the implementation of financial support measures for economic relief.
The official also spoke of the need for the Angolan state to draw up funding policies for young people, in order to create innovative ideas to generate self-employment and others.
In the meantime, the director of Cuando Cubango's Economic and Integrated Development Office, Roberto Biwango, explained that the negative impact of the covid-19 pandemic is a major shock to the country's macroeconomic fabric, particularly in that province.
"This has strongly affected businesses, families. For this reason, the Angolan government, even with such difficulties, has been designing financial support policies for all economic agents," he said.
A total of 25 companies signed the memo, allowing another moment of realization of the distributive social justice to strengthen domestic production capacity and the weighting of local business", Biwango said.
- 29/05/2020 15:17:48
Luanda - The Asset management (Recredit) has recovered 1.5 billion kwanzas of credit granted by Angola’s major public bank the Savings and Credit Bank (BPC) amortized by a business group.
- 29/05/2020 14:55:39
Luanda - The State-owned bank Banco de Comercio e Industria (BCI) needs 57 billion kwanzas for its recapitalization following a number of adjustments resulting from the assessment of asset quality and implementation of the International Financial Reporting Standard 9 (IFR9).
- 29/05/2020 14:52:33
Luanda - The Angolan government will promote as from this Friday the eight-day public consultation process for the assessment of possible socio-environmental impact and its phases of implementation of the Electricity Sector Strengthening project (PFSE).