Luanda: The Angolan Ministry of Finance and the Spanish Official Credit Institute (ICO) have formalized a financing agreement aimed at supporting national Micro, Small and Medium Enterprises (MSMEs). This landmark agreement, signed on Wednesday, is set to enhance the productive capacity of Angolan companies, modernize the business sector, and stimulate productive investment, thereby contributing to economic diversification and strengthening the private sector.
According to Angola Press News Agency, the agreement will allow national MSMEs to access credit through participating commercial banks. This credit will facilitate the acquisition of equipment, technology, raw materials, intermediate goods, and other productive factors from Spanish suppliers. The initiative is a significant step toward bolstering the economic ties between Angola and Spain and is expected to provide a substantial boost to the Angolan economy.
The signing ceremony featured the Secretary of State for Public Finances, Ottoniel dos Santos, and the president of the Spanish Official Credit Institute, Fernando Salazar. With this agreement, both nations are optimistic about the positive impact it will have on the business landscape in Angola, providing much-needed financial support to MSMEs to thrive and compete in the global market.
