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Sat, 05 Sep 2020 12:45 - Updated Sat, 05 Sep 2020 12:44

Bank Yetu to finance small producers in Benguela

Catumbela - At least 15 small projects, with priority for the processing industry, salt production, agriculture and livestock in Benguela province, are in the race to get finance from Banco Yetu, the bank’s manager in Lobito city, Ivo da Silva, said on Friday.

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Banco Yetu Logo type

Photo: Divulgação

The official made the statements on the sidelines of a Business Forum held in Benguela, with aim to publicize the modalities of access to the credit line from this institution created in February 2019.

Speaking to the press, Ivo Silva said the bank is ready to finance small projects amounting to 50 million kwanzas, with a subsidized interest rate of 7.5 percent per year, in a program to support the production of essential goods that present supply shortages.

Ivo da Silva stressed that the bank has already received the first package of projects from small companies in Benguela, for analysis and approval of financing by the respective administration in Luanda.

Some issues that the bank has presented are currently being discussed, especially the guarantees, the manager said, adding that in a short time Benguela will see some of these projects get financed.

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