- Angola’s central bank reports $1.3 billion directed to essential food production; analysts urge greater agro-industrial investment
- National strategies like PLANAGRAO aim to increase food security and reduce import dependency by 2027
Luanda, Angola – Between January and September 2024, Angola directed $1.3 billion in credit towards the production of essential food items, covering 940 operations, according to the National Bank of Angola (BNA). This amount represents 17% of commercial banks’ loan portfolios, with $1.5 billion overall directed to the real economy during the period. However, analysts assert that Angola must make “serious” investments in the agro-industrial sector to tackle low domestic production and dependence on imports.
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