In early July, the Banco Nacional de Angola (BNA), Angola’s central bank, introduced new rules permitting the execution of foreign exchange (FX) capital operations without the central bank’s approval. By removing its licensing function from a range of financial transactions, including credit operations, the BNA has taken a further step towards the liberalisation of Angola’s FX market and wider economy.
The change applies in instances where rights or obligations are created or exchanged between resident and non-resident entities, including granting and repaying loans, the acquisition of stakes in Angolan companies, and the issuance and execution of guarantees, among others.
