Angola: National Bank Facilitates Over 1 Billion Kwanzas in Credit for Economic Projects

The National Bank of Angola (BNA) has successfully extended credit exceeding one billion kwanzas through projects facilitated by commercial banks.

During the opening of the 12th Economy and Finance Forum in the Province of Luanda, BNA Governor Manuel Tiago Dias disclosed that this amount constitutes 16.36% of the overall bank credit portfolio. Furthermore, it represents 78% of the credit portfolio dedicated to the real sector of the economy, with a specific focus on industries such as manufacturing, agriculture, animal production, hunting, forestry, and fisheries.

Governor Dias highlighted that this achievement is attributed to Notice 10/23 issued on April 6, which has played a substantial role in enhancing credit to the economy from its implementation until October of the current year.

Under various notices released by the BNA, Manuel Tiago Dias emphasized the commitment to supporting diverse economic programs. These initiatives aim to drive economic diversification by providing financial guidance and policies that impact credit availability and investments across different sectors.

Governor Dias further noted that the data available indicates the creation of more than 46,000 jobs since the inception of the BNA notices. The funded activities have been distributed across 17 provinces, contributing to the realization of homeownership dreams and fostering growth in the real estate sector.

Regarding the 12th Economy and Finance Forum, Mário do Nascimento, Chairman of the Angolan Banking Association (ABANC), described the event as a significant milestone in promoting essential discussions on economic diversification and financial markets.

Conducted under the theme “Economic Diversification and Financial Markets,” the forum, organized by ABANC, addressed the critical need for economic diversification in Angola. This shift is deemed essential for achieving sustainable growth and reducing dependence on oil.