Angola's Ministry of Finance published remarks by Minister of State for Economic Coordination José de Lima Massano setting out a package of concessional financing and tax and social contribution measures to support commercial establishments affected by looting and vandalism, aimed at helping firms resume operations, replenish stocks and continue paying wages. Banco de Poupança e Crédito (BPC) has been designated to operationalise the support through credit priced at a 5.0% interest rate, with a nine-month grace period and a 12-month term. To access the credit, affected business owners in Luanda, Icolo e Bengo, Lunda-Norte, Malanje, Bengo, Huíla and Huambo must submit a police complaint declaration, and wage support requests must include payroll records from prior months; BPC will have 20 days to provide a response and make funds available. The package also includes an additional USD 25 million line for importing equipment not available domestically, expedited VAT recovery of up to 100%, and an exemption from social security contributions for three payroll processings for firms that continue paying wages while restoring full productive capacity. The government’s economic team met with business owners and trade associations to agree operational arrangements intended to ensure the support reaches affected economic agents quickly.
Ministry of Finance (Angola) 2025-08-04
Angola's Ministry of Finance announces BPC concessional loans and tax relief for businesses affected by looting and vandalism
Angola's Ministry of Finance announced a support package for businesses impacted by looting and vandalism, including concessional financing and tax measures. Banco de Poupança e Crédito will provide credit at a 5.0% interest rate with a nine-month grace period. Additional measures include a USD 25 million line for equipment imports, expedited VAT recovery, and social security exemptions. The government coordinated with business owners and trade associations to expedite the support process.