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26/02/2015: Moxico: Ministry of Economy invests in micro companies

Moxico: Ministry of Economy invests in micro companies

Luena - The Ministry of Economy has, in its draft plan, the fortification and capitalization of the national entrepreneurs, especially the micro, small and medium companies, said on Tuesday in Luena (Moxico), the Angolan minister of Economy, Abraão Gourgel.

Speaking at the lecture on "the impact of the Angola-Invest programme and Diversification of the Economy", under the holding of the National University Students Camping (Canfeu), the minister reiterated that economic diversification and industrialization are irreversible trends, resulting from a state policy.

According to him, to diversify the sources of capital and develop the base for the risk capital emergence as an alternative to conventional finds, are prerequisites for sustainable economic growth.

He explained that the commercial banking system grants predominantly credits and financing with a relatively short time, due to the fact of its funding base to be primarily made up of short-term deposit.

The official said the venture capital is a long-term source of finance for micro, small and medium enterprises with high growth potential.

The Angola Invest programe is designed to support investment in productive activity, with priority to agriculture, livestock, fishing, construction, manufacturing, and other industries and services.