Luanda — Angola's Debt and Securities Exchange (BODIVA) on Tuesday in Luanda launched a Social Grant project, with a view to boosting agribusiness and family entrepreneurship, in an investment of 450 million Kwanzas for the initial phase.

The project arises within the scope of BODIVA's social responsibility, which has, among its main objectives, the initiative to fight poverty through financing and creating business opportunities and the facilitation of accelerated growth of economic activity in rural communities.

The pilot phase of the project begins this week in Dombe Grande region, Benguela province, and it is expected to reach 1,250 families in the first three years, promoting an annual income of 450,000 Kwanzas per household.

According to the president of the Executive Committee (PCE) of BODIVA, Walter Pacheco, who presented the project, this is an innovative initiative in the country, as it introduces the figure of social investor into the agenda of the Angolan Capital Market.

Walter Pacheco clarified that the investor's primary objective is not profit, but to empower the neediest families, aiming at poverty reduction and the development of the rural environment, thus obtaining "social profit".

He highlighted that the project emerged from an innovative perspective, based on the idea of investments in economic projects whose return is measured by the impact on the quality of life of communities."

For this reason, the projects financed through the Social Grant aim to simultaneously increase family income and resolve community difficulties, generating a new type of income.

Walter Pacheco revealed that the implementation of the pilot project, in Dombe Grande, will be developed in partnership with a local Association for Agribusiness and Entrepreneurship.

The Social Grant project aims to reduce the costs of financing agricultural activity, increasing financial literacy, technical and nutritional assistance, as well as reducing working hours in the field, optimizing procedures. OPF /B.C/TED/DOJ