geo/angola
Washington, D.C., November 12th, 2019 – Fundo de Garantia de Crédito (FGC) became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
FGC is a public credit guarantee entity based in Angola. It facilitates access to credit from financial institutions for MSMEs and entrepreneurs lacking guarantees.
Small and medium-sized enterprises are the real engine of growth. In developed markets they form the backbone of industry, driving innovation and employing millions. The UK’s Department for Business, Innovation and Skills, for example, reported that there were 4.9m private businesses at the start of 2013, employing 24.3m people. All mature markets depend on small businesses to create jobs and drive innovation.Emerging markets must follow suit if they are to stimulate enterprise and build a robust economy. This is why countries such as Angola need to ensure that the banking sector is not only liberalised and competitive but also prepared to create wider access to capital for SMEs.
Women in northeastern Lunda Norte province Friday in Dundo appealed to the Angolan Government to create mechanisms to facilitate the access to agricultural credit.
