Quanten Consortium Angola – which will build and operate the Soyo Refinery – and FACRA (Fund Activo de Capital de Risco Angolano) have teamed up to implement an “innovative financing strategy” that will support national companies. On the one hand, contracts will be awarded to local companies for the supply of goods and services for the refinery project and, on the other hand, financing will be promoted for these same companies.
At an extraordinary meeting between executives from the Quanten Consortium Angola and FACRA, it was agreed that when the Soyo Refinery Project awards a contract to a local Angolan company, FACRA will be responsible for providing the companies’ equity, forwarding the bank to the funding complementarity.
If necessary, the Quanten Consortium Angola will present the bank to the companies, in order to facilitate the granting of financing, contractual guarantees of the awarded services and other means necessary for the rapid viability of the projects.
The details of the agreement are being finalized, with signature scheduled for Luanda within the next three months.
“Quanten Consortium Angola is honored to have the opportunity to help local Angolan companies remove one of the biggest obstacles to business success which is access to capital,” said Segun Thomas, CEO and Managing Partner of Quanten Consortium Angola, in a statement sent to VerAngola.
Teodoro de Jesus Xavier Poulson, coordinator of FACRA’s Restructuring Commission, added that “this initiative will allow FACRA to fulfill one of its main objectives, which is to leverage small and medium-sized companies to generate added value to the economy and to develop a structure of revenue capable of ensuring its own sustainability”.
