According to the governor – quoted in a note from the BNA to which VerAngola had access –, this decline is the result of the reforms carried out in the currency and exchange market.
"Governor José Massano also informed that, due to the result of the reforms implemented in the money and exchange market, the difference between the informal and formal market exchange rates went from 150 percent in 2017 to less than 10 percent, currently", reads in the statement.
Having received, last Tuesday, in audience the co-president of Deutsche Bank for the Middle East and Africa, Kees Hoving, José de Lima Massano also took the opportunity to make "a brief summary of the main reforms implemented by" BNA between 2017 and 2022.
Thus, he highlighted, for example, "the total settlement of foreign operations, in the amount of five billion dollars that were pending, the change in the exchange rate regime, from a fixed exchange rate by the exchange authority to one that is determined by market forces and the contracting of the Bloomberg FXGO platform, which made it possible to ensure the operation of the foreign exchange market in a fully electronic and transparent way", adds the statement.
Lima Massano also stated that "the impact of the New BNA Law on the Corporate Governance and Internal Control model, especially in the domain of the governor's appointment process, as well as the inclusion of directors with non-executive functions, is an unprecedented milestone in history of Banco Nacional Angola".
Kees Hoving – who visits Angola in order to witness the most recent transformations operated in Angola's financial system – shared the "strategic vision of his institution" regarding the implementation of various projects "in the sub-Saharan region, in general, and in Angola, in a particular way", as well as "the perspectives on the activity of that banking financial institution in the country in the medium term", says the statement.
