Banco Angolano de Investimento (BAI) has launched a new product, the Liquidity Advance, designed to alleviate payment difficulties faced by companies in the oil sector.
This initiative, developed in collaboration with the Association of Contracted Companies in the Oil Industry of Angola (AECIPA), aims to support service providers and suppliers by offering immediate liquidity for their contracts.
The Liquidity Advance is a treasury credit solution that provides advance financing for service provision contracts.
This product ensures prompt payment of issued invoices, helping to maintain the financial stability of companies in the oil industry.
Bráulio de Brito, president of AECIPA, expressed optimism about the new product in an interview with Jornal de Angola.
He noted that service providers view it favorably as it promises to restore dynamics and financial sustainability to companies.
Payment delays have been disrupting the sector’s value chain, and this solution is expected to mitigate those issues.
The credit covers up to 90 percent of the invoice value presented by the customer, with a three-month term and a commission rate of 5.0 percent.
