Ver Angola

Banking and Insurance

International banks interested in operating in the Angolan market

Some international banks expressed, in Washington, to the governor of the National Bank of Angola (BNA) and the ministers of Finance and Economy and Planning, their intention to enter the national banking market.


According to the BNA governor, "there is room for more international banks to operate in Angola", sustaining this approach with the opportunities that the economic diversification agenda provides to financial institutions in their relationship with the private sector, as well as the fact that financial inclusion only around 50 percent of the population. "There is, therefore, tremendous space," he assured.

Speaking in the question and answer session during the round table on the Potential for Economic Growth in Angola, organized by the Chamber of Commerce of the United States of America, José de Lima Massano provided the audience with a framework on the measures taken in recent times with a view to in view of the stability of the financial system, inflation control and the operating system and management of exchange rates, for which the Bloomberg platform was contracted.

According to the governor of the central bank, the use of the platform made the system flexible, transparent and operating based on the conditions of the foreign exchange market. However, the governor announced that the possibility of companies that make money transfers could also operate on the said platform is being studied. José de Lima Massano defended the need for these companies to disperse their presence across the other provinces, thus avoiding concentration only in Luanda.

With regard to the principles of banking supervision, he clarified that Angola has adopted the rules of the European Central Bank and has been exercising a role of regulator and supervisor of the system, now supported by the independence determined by the 2021 constitutional revision, having highlighted the measures adopted to safeguard stability and avoid contagion and risks to the financial system. He also highlighted the work that has been done with BPC and Banco Económico to control systemic risks.

The Minister of Finance, Vera Daves, had the opportunity to address the macro-fiscal framework, highlighting the measures adopted to control the public debt, the financing needs present in the General State Budget for 2023, as well as the prospects for launch of ESG bonds (bonds for environmental, social and governance purposes) on the international financial market.

In turn, Mário Caetano João, Minister of Economy, highlighted the reforms of the political-institutional framework with the measures adopted in the last five years regarding the fight against corruption as well as the ongoing reforms to improve the business environment. The minister also referred to the pillars of the new National Development Plan, namely Human Capital, Infrastructure and Economic Diversification, on which the involvement of the local and foreign private sector is expected.

Companies from different areas took part in the meeting and, following the invitation of the Minister of Finance, in the final notes, for them to invest, it was announced the holding of a business mission to Angola, in the second half of this year.


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