Angola: Over 70 Entrepreneurs Declare Bankruptcy in Last Five Years

Lubango — At least 75 new companies created in the last five years by young entrepreneurs in Huíla province, have closed due to poor management and foreign currency difficulties, said the coordinator of the Angolan Forum of Young Entrepreneurs (FAJE), Piedade Pena.

With the bankruptcy failure of the companies at least 350 people became unemployed.

These companies were part of a group of 970, created under the facilities of the Single Entrepreneur’s Desk (BUE) and the formation of the National Small Business Institute (Inapem).

These are enterprises in the service, small manufacturing, commerce and agro-livestock sectors.

In an interview with Angop, the coordinator of the FAJE in Huíla, Piedade Pena, admitted that some young entrepreneurs have misused the credit line provided by the Angolan Government, but of the surviving only 240 have fulfilled their fiscal obligations and maintain some stability (from a total of 970).

On the other hand, he regretted the poor coverage of Projovem Programme in the province, out of a total of 120 projects, only nine were approved, the value of which is still unknown.

“We monitor the credit phase from its implementation, execution until its cancellation. Nine projects have been approved, but there are 120 projects, all well prepared for funding, “he said.


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Publish date : 2019-04-27 13:36:26

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