Ver Angola

Banking and Insurance

BNA acquires public securities from 16 companies

The National Bank of Angola (BNA) announced Wednesday that it has 100 billion kwanzas to buy public bonds from companies in difficulty.

:

In a statement issued this Wednesday, the BNA states that the overall amount of the Liquidity Line for the Purchase of Public Bonds from Small and Medium-Sized Companies was made available under Instruction 06/2020, of 6 April, and that 6.88 billion kwanzas have already been spent on the purchase of bonds from 16 companies.

According to the document, the Angolan central bank carried out 25 Treasury Bond (OT) purchase operations on the trading platform of the Angolan Debt and Securities Exchange (Bodiva) by 13 May.

The proceedings of the entities concerned, it notes, were conducted with eight commercial banks members of Bodiva.

The Liquidity Line for the Purchase of Public Bonds from Small and Medium-Sized Enterprises stems from the authorities' measures to mitigate the impact of the crisis generated by covid-19 on the national economy, as announced in March by the governor of BNA, José Massano.

The companies guarantee loan and liquidity through these public securities.

Angola already has 45 confirmed cases of covid-19, namely 29 active cases, fourteen recovered and two deaths.

The country is complying with the third extension of the state of emergency which extends until 25 May.