Banco de Comércio e Indústria (BCI), an Angolan bank majority-owned by the Angolan government, recently launched a microcredit program that is expected to benefit 50,000 people across the country by 2012, the bank’s chairman, Adriano Silva, said. Speaking at the launch of the program, Mr Silva said that the funding initiative is part of the bank’s strategy to help people who have business initiative and a dream of having their own business. The initial loan amount per person will be USD 500 and has the potential to be increased dependent upon compliance with the repayment contract. Those clients who are able to successfully develop their business and repay the initial loan may be offered loans of USD 10,000, USD 50,000 and USD 250,000 in phases.

By: Christine Chang, Research Associate

About Banco de Comércio e Indústria (BCI):

Banco de Comércio e Indústria (BCI) is an Angolan bank majority-owned by the Angolan government. Established in 1991, the bank is part of a joint venture with Sonangol, the national petroleum company.

Additional Resources:

Source article: Macau Hub: Angolan bank BCI launches micro-credit programme, March 10, 2010: http://www.macauhub.com.mo/en/news.php?ID=9064

MicroCapital Universe: Banco de Comércio e Indústria (BCI): http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Banco+de+Com%C3%A9rcio+e+Ind%C3%BAstria+%28BCI%29

 Financial-portal.com: Angola Banks: http://www.financial-portal.com/banks/angola_banks.php