Luanda: The Angolan government has announced a significant financial boost for the country’s textile sector, with the allocation of a 300 billion kwanza financing line, backed by a sovereign guarantee. This initiative was confirmed by Luís Contreiras, the president of the Textile and Clothing Industry Association (AITECA), during a press briefing on Saturday.
According to Angola Press News Agency, Contreiras shared this development following a visit to the Viana Industrial Pole by the Minister of State for Economic Coordination, José de Lima Massano. The minister’s visit aimed to engage with industry members and understand the challenges affecting the sector. Among the issues highlighted were difficulties in accessing finance and acquiring essential raw materials such as cotton, elastic, zippers, buttons, thread, and packaging boxes.
Despite these challenges, the textile industry maintains a substantial production capacity, capable of producing five million garments annually while providing employment to ap
proximately 4,700 workers. The Minister for Industry and Trade, Rui Minguês, emphasized the critical role of the clothing industry in the nation’s economy. He acknowledged that while the industry is not yet operating at an optimal level, ongoing dialogue with industry associations is crucial. Minguês noted that some of the challenges identified already have existing solutions, which have not been fully implemented.