Angola extends cash tranfer for low-income families

Angola will extend a cash-transfer program for low-income families as a weaker currency and sky-high inflation continue to drive up living costs in the oil-producing country. Bloomberg reports the Kwenda program will run until 2029, following the recent approval by the World Bank of an additional $400 million loan, President João Lourenço said in a speech Tuesday.

The project, the first of its kind in Angola, began in 2020 to support the nation’s poorest during the Covid-19 pandemic.

Written by: Tonata Kadhila

Angola Cash Transfer currency Inflation Joao Lourenco Kwenda Loan Low Income Support Poverty Relief social welfare World Bank

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Business / Economics

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