"The National Bank of Angola considered it opportune to implement measures to allow small and medium-sized companies to transform certain Treasury Bonds in their balance sheets into immediate liquidity, thus facilitating their treasury management during this period of less activity", reads a note released this Tuesday in Luanda.
"Banco Nacional de Angola provides a line for the purchase of Non-Readjustable Treasury Bonds to small and medium-sized companies", explained in the Instruction, signed by the BNA governor, José de Lima Massano.
The aim is to allow companies that had purchased government bonds to be able to sell them immediately, thus turning the bonds into cash to face the financial difficulties brought about by the covid-19 pandemic.
"This Instruction is effective for a period of 90 days from the date of its publication or until the limit of the line for the purchase of Treasury Bonds has been exhausted, and the term may be extended", the document further states.
The initiative now implemented had been announced on March 27, with the creation of a global facility of up to 100 billion kwanzas, made available by the National Bank of Angola, so that companies outside the financial area that have public securities in their assets could discount them with commercial banks.
"In an facility of up to 100 billion kwanzas granted by the National Bank of Angola, some companies, either by investment option, in the past, or by regularizing public debts, for example, received public bonds and may now have an interest in undoing these public bonds are competitive in order to have access to liquidity ", explained the BNA governor.
José de Lima Massano stressed that the decision allows "these securities can be discounted and these companies can have access to liquidity without necessarily having to make marked discounts on the securities they have in their portfolio".
