The Angola Active Venture Capital Fund (FACRA) has disbursed a total of 3.7 billion kwanzas this year for projects in the logistics, transportation, storage, conservation and agro-food processing sub-sector, as part of the measures to stimulate the economy.
FACRA is a venture capital fund, with long-term financial investment in small and medium-sized companies with high potential, with the aim to diversify the national economy, with an interest rate of 7.5% per year and a grace period of up to 12 months and a settlement between three and seven years.
The amount is part of the total of five billion kwanzas venture capital to support micro, small and medium-sized companies, which consists of providing capital to companies and, in return, taking a temporary stake in the share capital for periods ranging from three to seven years.
According to the project manager, José Paulo, at least 15 projects have received support, eight of them already funded in the provinces of Benguela, Bié, Huíla and Luanda, while projects in Malange and Namibe have been selected for the near future.
Speaking to ANGOP on the sidelines of a visit to companies as part of the Program to Support and Revive Paralyzed Industries (PARIP) Paulo said the minimum amount given was 100 million kwanzas.
He pointed out that there is no defined maximum amount, as the funding depends on the needs of the promoter.
“We now have some projects already approved. We’re waiting for the promoters to comply with the tax issue. As a state institution, we have to certify that these companies have complied with their AGT and Social Security obligations, and as soon as we receive these declarations, negative or null, we disburse the amounts,” he explained.
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