Lobito - The Credit Guarantee Fund (FGC) has issued guarantees worth 19 billion kwanzas to finance various projects in Angola, out of a total of 7,300 guarantees issued, the institution's CEO, Luzayadio Simba, said on Thursday in Benguela.
The FGC CEO recalled that since the creation of the institution in 2012, the fund has issued guarantees worth 607 billion kwanzas until 2024, which has allowed more jobs to be created for young Angolans.
Luzayadio Simba said that more than 12,000 jobs were created last year, bringing the total since 2012 to 35,750, out of a total of 6,401 projects, and that 98 percent of the projects submitted to the FGC have been approved, taking into account that the processes forwarded are almost pre-approved and the response to a process can be obtained within 20 days.
She said it's easier for small producers to get financing because they don't need a feasibility study, business plan or organized accounts, just personal documentation and an explanation of what they want to buy.
In Benguela Province, the FGC works with microcredit companies, namely Kixi-Crédito and Williet, which serve small and micro-entrepreneurs.
The Credit Guarantee Fund is responsible for mediating between the banks and the microcredit companies and the promoter so that the process can be completed quickly. TC/QCB/AMP
