Luanda - United Nations Development Programme (UNDP) said it has made available USD 3 million to fund the inclusive transition from informal to formal economy in Angola.
A financing and cooperation agreement was signed Friday in Luanda by minister of Economy and Planning, Mário Caetano João (Angola) and the representative of the UNDP resident in Angola, Edo Stork.
Addressing a signing ceremony, the minister of Economy and Planning, Mário Caetano João, said the agreement aimed to speed up the Informal Economic Reconversion Programme(PREI).
The minister said approximately 76 % of the economically active population depend on informal economy, with an estimated weight of 60% in the Gross Domestic Product (GDP), which represents an annual movement of USD 64 billion.
He also announced plans to launch a massive campaign for registration and formalisation of informal occupation in the country, aimed to secure the inclusion in the formal market of financial resources generated by the informal market.
The minister explained that with the support by European Union "in 2021 the intention is to formalise 100,000 informal operators, of whom at least half (50,000) would be users of mobile payment systems.
In turn, UNDP representative in Angola, Edo Stork, expressed his institution’s availability to work with Angolan government on accelerating of reconversion process of economy to generate decent job for Angolans.
So far, the Informal Economic Reconversion Programme (PREI) allowed the execution of the Financing Line for Economic Relief Measures in 99 percent by using the AKz 2 billion made available for the first phase, which has benefited about 2,600 micro entrepreneurs.
