Africa > Central Africa > Angola > Banking / Investment

Banking / Investment in Angola

  • Angola's banks look to rise to the challenges

    ANGOLA, 2017/10/31 The fortunes of Angola’s banks are continuing to split nearly three years next commodity prices began their swift collapse. While the larger private lenders are weathering a challenging economic environment relatively well, a lot of of their national-owned peers are being restructured and recapitalised. Meanwhile, smaller banks of all stripes are feeling the pinch from a stalling economy and a tighter regulatory landscape. These challenges are unfolding as Angola’s banking sector braces for full Basel II capital adequacy compliance by the end of 2017. Meanwhile, with dwindling quality increase opportunities, the structure of Angola’s banking sector could change in the coming years, with consolidation a likely (though by no means straightforward) outcome. Diminishing oil receipts, a threat of consolidation, a looming Basel II compliance deadline, a loss of US dollar correspondent banking relationships, a shortage of foreign capital... The challenges facing Angola's banks are many, which makes the strong performances of some in the sector all the more impressive, writes James King.  
  • Africa's last international banks make their stand

    BOTSWANA, 2017/10/31 On June 1, 2017, Barclays sold a 33.7% stake in its African business, Barclays Africa Group Limited (BAGL). The transaction reduced the UK lender’s stake in its African offshoot to 14.9% and permitted, in accounting terms, the deconsolidation of BAGL from its parent. Additional symbolically, it brought to an end Barclays’ operations on the continent next additional than 100 years. The rise of Africa’s home-grown financial players has led most international lenders to withdraw from the continent. However, Société Générale and Standard Chartered are not only staying put but marking territory for digital expansion. James King reports.
  • Why governments need to support the financial sector to meet the unserved needs of smallholder farmers

    BOTSWANA, 2017/09/09 This year, under the leadership of H.E. President Alassane Ouattara and the theme of “Accelerating Africa’s Path to Prosperity: Growing Inclusive Economies and Jobs through Agriculture”, the African Green Revolution Forum (AGRF) 2017 is shaping up as a premier platform to showcase ongoing evolution in Africa’s agricultural transformation schedule and to scale up the political, policy, and financial commitments needed to achieve the Malabo Declaration and the world development schedule around the Sustainable Development Goals (SDGs). Following the launch of the landmark annual Africa Agriculture Status Statement (ASSR) at the AGRF taking place in Cote d’Ivoire from 4-8 September 2017, the major conclusion centres around the power of entrepreneurs and the free market in driving Africa’s economic increase from food production. This is owing to the fact that a lot of businesses are waking up to opportunities of a rapidly growing food market in Africa that may be worth additional than $1 trillion each year by 2030 to substitute imports with high price food made in Africa.
  • Angola: Ruling Party Considers Reducing Taxes to Attract Investment

    ANGOLA, 2017/07/16 The creation of additional fiscal incentives, through the reduction of taxes to attract investments into the majority needy regions of the country figures part the economic measures an MPLA election winning government is considering. This was said Friday in Luanda by the ruling MPLA party's presidential candidate, João Lourenço, who said the existing regional asymmetries will not be eliminated through decrees.
  • Chinese ambassador to Angola calls for better investment climate

    CHINA, 2017/01/23 The government of Angola should seek to strengthen the investment climate in the country and improve it in order to attract additional foreign companies, the Chinese ambassador to Angola said on Thursday in Menongue. At the end of a short visit to Kuando Kubango, Cui Aimin, who did not provide figures, said that China will invest in the province in the areas of agriculture, hotels, tourism and construction of infrastructure.
  • Russian bank cancels merger of subsidiary with Angolan bank

    ANGOLA, 2015/09/29 Russia’s VTB bank has cancelled the merger of its branch in Angola – VTB Africa – with Angolan bank Banco Privado Atlântico, according to the Reuters news agency, citing a statement issued Thursday in Moscow. “The two sides agreed to continue in the banking business separately due to changing market conditions,” the statement said. In early 2014, the Russian bank announced that together with Russian conglomerate Rostec it would acquire a 20 % stake in Banco Privado Atlântico.
  • Anip Signs Contracts Estimated At U.S.$5 Billion , Angola

    ANGOLA, 2015/04/18 At least USD 5.2 billion, roughly 50 billion kwanza, is the in general all of the 13 investments contracts signed Wednesday between the National Agency for Private Investment (ANIP) and investors. The contracts, mostly for the commercial and industrial sectors, were signed by the Chairperson of the Board of Directors of ANIP, Maria Luisa Abrantes, and businesses Organizations Ribeirinho, Hua Dragon-General Trade, Sweet Crumb, Xirong Yatai Su, Lusounu, China-properties (formerly Universal Shopping), Industrial Carliz-Equipment, Africorp-Ventures and buildings, Frulgo, Prestanto-service delivery, Adisandra & AN Group, Automatriz and pipes MM Angola.
  • Reserve Bank Sells U.S 300 Million to Commercial Banks in Angola

    ANGOLA, 2015/04/07 A total of Usd 300 million has been sold by the Angola Reserve Bank (BNA) to commercial banks from March 30 to April 2 this year, Angop learned from the institution?s website. According to the source, in the above transactions, BNA used the banking reference exchange rate of Usd=Akz 109,059. The BNA has as well released into the market Akz 9.6 billion worth of treasury bonds, of which Akz 7.4 billion in treasury bills and Akz 2.2 billion in securities.
  • Angola Reserve Bank Yields About Usd 660 Million in Foreign Currency Sales

    ANGOLA, 2014/12/09 The National Reserve Bank (BNA) sold between 1 and 5 December, this year, foreign currencies which yielded the BNA about USD 660 million, overcoming the 360 million dollars earned by the institution in the last week of November. According to the data that was published this Monday on the BNA site, the average exchange rate of reference in the inter-bank market is 101 kwanzas for one dollar, with a 0.3% variation in relation to the previous week.
  • Angola: Banking Sector Consolidates Growth

    ANGOLA, 2014/10/19 The Angolan banking sector continued, in 2013, in the path of increase in terms of number of branches with 11.77%, the average number of employees and 12.45% of assets with 15.8 % in relation to the year 2012, announced on Friday in Luanda, the chief of financial and audit services of KPMG, Vitor Ribeirinha. According to the official, who spoke at the presentation ceremony of the 5th edition of the 2014 Banking Study under Analysis, there are five financial institutions in the process of constitution and appropriate registration to the National Reserve Bank of Angola (BNA), elevating to a potential of 29 commercial banks operating in the market.