Angola: BAI bank opens doors to national coffee growers

Luanda – The Banco Angolano de Investmento (BAI) bank is available to support domestic coffee producers to increase their production capacity, within the framework of existing subsidized lines, such as Angola Investe.

The fact was announced on Friday night in Luanda by BAI’s director of small and medium-sized enterprises (SMEs), Jorge Lutuima Silva, who was speaking to the press on the sidelines of the 63rd edition of First Friday Club, promoted by the USA-Angola Chamber of Commerce (USSAC), which addressed the theme “the coffee sector: opportunities and proposals for the relaunch”.

Without advancing the figures available, he said that the line is limited, ensuring that there is still sufficient funding to support domestic coffee producers.

Only with the “Angola Investe” program, BAI has supported 51 projects, two of which are in the coffee sector, which are being implemented in the provinces of Cuanza Sul and Cuanza Norte.

He explained that BAI, with great caution, has been supporting national production for two years, especially projects that are economically viable, with companies that show a great capacity for management.

According to the BAI document which Angop had access, the maximum credit limits for micro enterprises is equivalent in kwanzas to USD 200,000, for small companies, USD 1.5 million for medium companies up to five million dollars.

Source: Angola Press News Agency