Ver Angola

Banking and Insurance

More than 850 billion kwanzas will be made available by the Government for housing credit

The governor of the National Bank of Angola (BNA), Massano Júnior, informed that the Government will provide a total of 858 billion kwanzas for housing loans. The amount, to be provided within the scope of a fund aimed at housing credit, is intended to encourage the purchase of a home using bank credit.

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Speaking at the end of a meeting of the Economic Commission of the Council of Ministers, the governor of the BNA, quoted by Angop, clarified that this rule aims to allow commercial banks to grant credit of up to 100 million kwanzas per borrower, to couples to obtain own home.

At the individual level, credit can reach up to 50 million kwanzas, added Massano Júnior.

According to the official, in order to grant credit, banks will require guarantees that may be of a personal nature or a surety, writes Angop.

He also made it known that the loans would have to be repaid at a rate of about seven percent over a 25-year period.

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