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Angola’s Central Bank Allocates Funds To Help Business

FILE PHOTO: Locals walk along the central bank building in the capital Luanda, Angola. June 7,2016. REUTERS/Ed Cropley/File Photo

The National Bank of Angola (BNA) said it has used almost 25 percent of all the 100 billion kwanzas (174 million U.S. dollars) available for national companies.

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The BNA said it had 55 purchases of treasury bonds at Angola Securities Exchange from 35 companies by May 29.

A total of 23.8 billion kwanzas (41.1 million dollars) have been disbursed for Angolan companies to deal with the economic and social impacts of the COVID-19 pandemic, and another 76 billion kwanzas has been used to provide liquidity to the economy, the country’s central bank said.

The BNA also reports that banks bought foreign currencies with an estimated worth of 122.3 million dollars from the oil sector last month.

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Written by PH

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