According to a recent AngolaPress article, 262 youths in the southern Angola province of Cuene received microloans in 2009 from the “Angola Youth” microcredit program.The program was launched in 2007 by Angola’s Ministry of Youth and Sports. Although the amount disbursed to date has not been released, the program will utilize an estimated total of USD 5 million from the Savings and Credit Bank (BPC), a state-owned commercial bank. In 2008, only one microfinance institution (MFI) from Angola, KixiCredito, reported to the MIX Market, the microfinance information clearinghouse. As of December 31, 2008, KixiCredito has total assets worth USD 9.9 million, a gross loan portfolio of USD 7.2 million, and 9,128 active borrowers.

By Christopher Maggio, Research Assistant

Additional Resources:

AngolaPress article entitled ‘Over 200 youths get bank loans’: http://www.portalangop.co.ao/motix/en_us/noticias/economia/2010/1/7/Over-200-youths-get-bank-loans,69988808-c0ba-4355-a598-7a0e72bcad73.html

Angola’s Ministry of Youth and Sports: http://www.embangola.at/contactyouth.htm

KixiCredito: http://www.kixicredito.com/

KixiCredito on the MIX Market: http://www.mixmarket.org/mfi/kixicredito