Luanda: Speaking to the press, at the end of the meeting with businessmen harmed by the skirmishes, the Minister said that the measure aims to allow the rehabilitation of properties, replenishment of stocks, and maintenance of jobs, including salary payments for three consecutive months, in a short period of time.
According to Angola Press News Agency, the financing will be operated by the Credit Savings Bank (BPC) at an interest rate of 5%. Entrepreneurs have a grace period of nine months to begin repayment. The process is expected to be swift, with BPC disbursing funds within 20 days, and the financing line will last for 12 months.
Entrepreneurs seeking this support must provide formal company documentation, pay slips for affected jobs, and a police statement. Besides this support measure, there is another financing line of US$25 million available for entrepreneurs to import equipment and goods not available in the country.
In terms of tax measures, the Angolan official announced a full recovery of Value Added Tax (VAT) and an exemption from the company Labour Income Tax (IRT) for three consecutive months. The funds provided by the Angolan Executive are reallocated resources from other Government programs within the General State Budget. Companies have insurance and are expected to return the funds to the State upon payment.
The meeting was attended by the Government economic team, business associations, members of the Association of Modern Commerce and Distribution Companies of Angola (ECODIMA), and operators in the distribution and logistics sector.
