The announcement comes days after the BKI held a general meeting to carry out the dissolution of the company and appoint a winding-up committee.
According to the information disclosed on the regulator's website, the decision was taken this Monday at an extraordinary meeting of the Board of Directors.
The National Bank of Angola (BNA) will also request the declaration of bankruptcy of the BKI before the Luanda Provincial Court. The capital requirements are one of the conditions for the continuity of banking activity.
The BNA also informs customers that they may use the usual channels, namely the head office, Multicaixa network, internet and mobile banking for withdrawals and transfers of the respective balances, recommending "that they maintain serenity and do not rush, avoiding unnecessary agglomerations".
The dissolution of Banco Kwanza Investimento, whose main shareholder is the Swiss-Angolan businessman Jean-Claude Bastos de Morais, was already foreseen last year.
A general meeting was called twice, on 31 August and 17 September, but it did not take place.
A new general meeting was called for January 4, 2021, at the beginning of December last year, depending on the representation of more than 50 percent of the share capital with voting rights.
However, if the quorum was not reached, the announcement published in Jornal de Angola on 3 December stated that the extraordinary general meeting would then be held on 20 January, with full deliberative power, "regardless of the number of shareholders present or represented and the capital they represent.
In reaction to the first attempt to hold the general meeting, the National Bank of Angola (BNA) made it known that the BKI was subject to several measures that the Angolan regulator imposed, such as the obligation to comply with any instructions to transfer the bank's clients to third parties, including the closure of accounts, and to keep regulatory own funds within the minimum limits required, until the bank's liquidation process had begun.
Kwanza Investimento Bank, linked to Jean-Claude Bastos de Morais and the former president of the Sovereign Fund of Angola, José Filomeno "Zenu" dos Santos, recorded net losses of around 515 million kwanzas in the 2019 financial year, according to an audited accounts report from the company, cited by Angop.
Businessman Jean-Claude Bastos de Morais, president and founder of the Quantum group, which managed the Sovereign Fund of Angola, was a partner of "Zenu" dos Santos, son of the former president José Eduardo dos Santos, and was in custody for about six months, accused of crimes of criminal association, improper receipt of advantage, corruption and economic participation in business, as part of an investigation into the management of this fund.
"Zenu dos Santos was sentenced in August to five years in prison for his involvement in another case, which became known as the "500 million" case, but he appealed the sentence and is awaiting a free decision.
The son of the former Angolan president and three other defendants were convicted of fraud and defrauding, embezzlement and influence peddling.
