Washington – Angola approved more than 1,000 credit operations for the productive sector between 2019 and 2022, as part of the strategy to improve the business environment.
The data were disclosed by minister of Economy and Planning, Mário Caetano João, when speaking to the press in Washington on Sunday, ahead of the US-Africa Leaders Summit, set for 13-15 December.
The minister said that in 2019, the country had only 30 to 40 credit operations for the productive sector, numbers that increased, largely in three years.
« Over the last three years, the country has seen more than three thousand credit operations approved, in an amount above USD 2 billion », explained the minister.
According to the source, Angola has seen progress in terms of access to credit for the productive sector, stressing that the country has also managed, within three years, to list at least three companies on the stock exchange, out of a total of ten required.
Meanwhile, Mário Caetano João recognised that much still needs to be done to make the business environment more favourable in Angola, stressing, however, that at that time the country was already more attractive to foreign investment.
« There is a growing appetite from foreign investors, » he said, referring to the Angolan market, which wants to count, from now on, on the involvement of more North American investors.
In this regard, the minister announced that Angola would take advantage of the US-Africa Summit to make contact with North American businessmen, with a view to attracting more and more investors.
« We are going to want to take advantage of the US market. We need agribusiness to help us with the diversification of the economy and here we can find investors who want to invest in projects from scratch, already existing, but in the privatisation phase, or in projects with risk sharing with local operators », he said.
During the summit, to be held from the 13th to the 15th of this month, Angola will seek to explore various engineering areas, including the possibility of achieving Public-Private Partnerships (PPP).
« The PPS will not be left out. The US has great experience in public-private partnerships and we have already listed about four projects that we would like to see developed », he concluded.
Mário Caetano João said that the Angolan delegation is coming to the Washington Summit with a very clear idea of how it would like to see the country develop. So it will make the US to see Angola as an important economic partner.
He said that there is interest from North American companies to develop business in Angola, others are looking for partners.
« We have a pledge from the US Government of around USD 2 billion for photovoltaic projects, in the diversification of energy sources. For this, there are American companies negotiating with the government for the projects to be implemented », he concluded.
