Luanda: Bank Millennium Atlantico launched on Wednesday in Luanda, a financing line for women entrepreneurs, aiming to address the barriers women entrepreneurs face in accessing financing and guarantees.
According to Angola Press News Agency, Tania Pinto, the director of small and medium enterprises at Banco Millennium Atlantico, stated that the value per operation is 200 million kwanzas with no minimum established, depending on the client's project. Interest rates for the credit line range from 7.5% to 10%, contingent on the business's nature.
Pinto highlighted that the financing line is available to all sectors of the economy, with a particular emphasis on activities such as agriculture, fishing, manufacturing, forestry, commerce, health, and projects with social and economic impact. These initiatives are aligned with Angola's Sustainable Development Goals (SDGs), which are integrated into the UN's 2030 Agenda.
She further explained that the financing line provides differentiated interest rates and benefits from the support of the Credit Guarantee Fund, which can cover up to 80% of the risk with a public guarantee. To qualify for access to the credit, companies must be legally constituted and either be at least 51% women-owned or have women in top leadership positions, or alternatively, have at least 60% of their workforce composed of women.
