ANGOLA: Loans For Hotels And Tourism

Commercial banks involved in Angola Invest program will finance projects of hotel and tourism sector in the amount 250 thousand until five million dollars.

The guarantee was given by the Director of the Institute of Tourism Promotion (Infotur), Eugénio Clemente.

Under the National Development Plan, the government of Angola, defined tourism as one of the sectors that should boost economic growth. The aim is to attract entrepreneurs who wish to invest in hotels, restaurants and tourist resorts infrastructure.

Eugénio Clemente was recently in the provinces of Kwanza Sul, Lunda Sul, North, Moxico and Kuando Kubango, to present the existing business opportunities in the hospitality and tourism sector and the financing facility under the Angola invests.

During the seminars, co-conducted by Infotur and the National Institute of Support to Small and Medium Enterprises (INAPEM), which should happen in the eighteen provinces, we intend to identify problems of local businesses, particularly in obtaining financing, preparation the economic feasibility and business management studies.

The deputy governor of Kuando Kubango to the Economic Sector, Ernesto Kiteculo recommended the province's entrepreneurs, to adopt good corporate governance practices, have extensive knowledge of the tourism sector, to qualify for the bank financing.

"We also call participants to create associations of tour operators, to benefit from the advantages of the Tourist Development Pole Okavango Basin and cross-border Okavango Zambeze project, two important regional dimension of tourism projects and offering good business opportunities, said the ruling”

The Ministry of Hotels and Tourism projected that by 2020, the sector will create between 900,000 to one million direct jobs and the country receives around four million tourists.