More than 300 citizens from different social backgrounds, mostly young people, have been benefiting since Friday from financial support under the “Ekuatiso Epata Credit” project, an initiative launched in the municipality of Navegantes by the commercial company Buaio Kumbu Lda, the company’s managing director, João Buaio, announced.
According to the official, the project has an overall budget of 50 million kwanzas, aimed at supporting small and medium-sized initiatives for those seeking to venture into entrepreneurship.
The first phase, he explained, took place in the municipality of Lobito in November 2025, where beneficiaries received loans ranging from 100,000 to 250,000 kwanzas, with an interest rate of 3 percent, positioning it as one of the lowest in the microcredit market.
According to João Buaio, in its initial stage, the project targeted citizens from municipalities along the province’s coastline, namely Lobito, Catumbela, Benguela, Navegantes, and Baía Farta.
The microcredit scheme, which will soon be extended to other municipalities, has a repayment period of six months, with the possibility of contract renewal if the operator shows interest, João Buaio stated.
He said the project is being implemented with the support of the Provincial Government of Benguela, through municipal administrations.
He added that its execution is proceeding without constraints, as candidates for credit submit their intentions and proposals through local administrations, where they are analysed, assessed, and approved for loan allocation.
Source: Jornal de Angola
