Ver Angola

Banking and Insurance

Government issues up to 30 billion kwanzas to capitalise BCI

The government will launch a special issue of Treasury Bonds up to 30 billion kwanzas to capitalize the Bank of Commerce and Industry (BCI), according to a dispatch from the Ministry of Finance.

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The special issue of Treasury Bonds 2020 - Capitalisation of BCI is intended for the capitalisation of the bank of public capital which has as shareholders the State, the State oil company, Sonangol, the diamond trading company (Endiama), the insurance company ENSA, the public transport of Luanda (TCUL), the Port of Luanda, the air carrier TAAG and Angola Telecom.

According to the dispatch published in Diário da República on 8 May, a maximum amount of up to 30 billion kwanzas will be issued with a unit value of 100,000 kwanzas, a fixed interest rate of 16.5 percent per year on the nominal value and repayment over four years.

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