Friday 24 June 2022

Angola: Cafang advocates specific bank to finance coffee production

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LUANDA, Angola – The coffee production in Angola lacks a financial institution dedicated only to meet the needs of farmers, ranging from the development of coffee projects and credits granting.

The fact was supported by the chairman of the Association of Coffee and Palm trees plantation of Angola (Cafang), João Ferreira when speaking to Angop.

João Ferreira told Angop that the coffee subsector has needs that are not compatible with the bureaucracy and slowness of banks in granting loans, underlining that farmers have found many difficulties in accessing bank loans.

Cafang leader also spoke of the need to exempt or lessen the farmers from export taxes.

The demand for Angolan coffee is growing and buyers such as Israeli, Lebanese, Chinese, Russian, in addition to traditional importers – Portuguese, Spanish, Italian and German – come to Angola for its much appreciated coffee

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