Ver Angola

Banking and Insurance

BNA disbursed 58.5 billion kwanzas to buy bonds

The National Bank of Angola (BNA) disbursed 58.5 billion kwanzas until June 19 in 91 operations to purchase Treasury Bonds from 54 companies, as part of the economic relief measures, due to covid-19.

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In a statement, to which Lusa had access this Tuesday, the Angolan central bank said that the process was carried out on the trading platform of the Angolan Debt and Securities Exchange (Bodiva).

According to the BNA, the procedure was based on Instructions no. 06 and 09 of 2020, through which a Liquidity Line for the Purchase of Public Bonds was made available to Companies, whose ceiling approved to confer treasury resources to companies is 100 billion kwanzas.

The Treasury Bond purchase operations for the 54 companies were carried out by 11 commercial banks, Bodiva members, and led by Banco Angolano de Investimentos (BAI) which provided 23.7 billion kwanzas, followed by Banco de Fomento Angola (BFA) with 15.6 billion kwanzas.

With regard to the liquidity facility in Angolan currency, the BNA informs that during the week of 15 to 19 June the commercial banks made use of the Overnight Liquidity Facility (FCO), with a daily average of 18.9 billion kwanzas.

In the same period, in the interbank market, the commercial banks carried out foreign currency purchase and sale operations amounting to USD 4.5 billion, and carried out 63 domestic currency liquidity lending and borrowing operations amounting to 243.4 billion kwanzas.

The operations in national currency, he notes, were carried out at an average interest rate of 15.50 per cent per year.

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