News from Angola – The Development Bank of Angola (BDA) and Norsad Capital, last week in Luanda, signed a memorandum of understanding with a view to facilitating loans to companies in a growth phase, learned NA.
It is a private lending provider that provides finance to medium-growth companies that contribute to building a better Africa.
The agreement foresees financing in the areas of the food value chain, social infrastructure and the financial sector and renewable energies.
According to the Chairman of the Executive Board of Norsad Capital, Kenny Nwosu, the agreement foresees the sharing of possible transactions that contribute to the maximization of business flows.
As the same, Each of the institutions has its own experience and financing models”, he said.
“Both financial institutions focus on providing the necessary capital for companies, which can be used to promote economic growth and improve the lives of the population of Angola and the African continent in general”, he revealed.
In turn, the Executive Director of the BDA, Arsénio Satyohamba, stressed that the agreement will contribute to more Angolan companies being financed, being another step towards fulfilling the unwavering commitment to promote growth and transform Angola’s economic scenario.
To this end, no minimum or maximum value has been defined, there is a universe of possibilities but Norsad itself the scope of financing is from 5 million dollars to 10 million dollars, this does not mean that only accredited companies will be financed ”, he expressed.
Arsénio Satyohamba, explained on the other hand, that the Development Bank of Angola can obtain financing to create microfinance lines and projects within the Bank that can even finance sellers of small companies, micro businesses and even startups, in a universe of capacity from 5 to 10 million dollars, depending on the needs of the BDA, a capitalization and support relationship will be developed.
In 2022, the Development Bank of Angola (BDA) made credit disbursements in the total amount of 113.6 billion Kwanzas, double the amount of projects disbursed in 2021.
Of the total amount financed, the Bank’s financing programs stand out with 59,909 million Kwanzas, corresponding to 53%, followed by the Restructured PAC with 47,422 million Kwanzas, which corresponds to 42% of the total disbursement.