Angola: Planning Minister Defends Economic Relief Beneficiaries Monitoring

Luanda — The Minister of Economy and Planning, Sérgio Santos, Friday here defended the need for the National Institute of Support to Small and Medium Enterprises (Inapem) to monitor companies benefiting from financial support measures.

Sérgio Santos stressed the importance of monitoring these firms so there will be no deviations in the policies outlined, but monitoring is very important, since there are changes that are not always attributed to entrepreneurs, but to the financial system.

The official defended the stance following the signing of the memorandum of understanding between INAPEM and distribution and supply companies under the implementation of the supportive measures for financial economic relief.

The agreement will enable the creation of a contingency plan to overcome the difficulties in the implementation of the programmes, the minister said.

"It is common, in the support that the Government gives, to fail a very important component and that then determines that the supportive policies do not achieve their result - the monitoring. Entrepreneurs in various circumstances receive support, but they deserves monitoring", stressed the minister.

The Cabinet minister also underscored that the country still needs to import some inputs that are not produced in Angola, but that it will have to gradually reduce these import.

Sérgio Santos invited entrepreneurs to set up the industry that will allow us to have the mixture of fertilizers in Angola, as well as seed multiplication units enabling to have more seeds supply and a chemical industry that would make it possible to have pesticides.

In the meantime, he explained that under the protocol to be signed with Textile and Clothing Industries Association at least 1,000 jobs will be created for women, who will have access to a sewing machine, a support for training and capacity building for the production of more masks.

Arnito Agostinho, Chairman of the Board of Directors of Inapem, said that the signing of the memorandum serves to formalize the granting of credits, in which the Institute will support the needs of producers.

There are about 120 companies being assessed their real needs, in order to have access to credit line at Banco de Poupança e Crédito (BPC) of about US 122 million dollars for products' import, Agostinho said.

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