Angola | - Part 2

Angola President Dos Santos to Quit Politics in 2018, Angop Says

Angolan President Jose Eduardo dos Santos will retire from “active politics” in 2018, the state-run Angop news agency reported, citing a statement he made to the ruling party’s central committee. The Russian-educated Dos Santos, 73, has ruled the southern African nation since 1979 making him the continent’s second-longest serving leader after Equatorial Guinea’s Teodoro Obiang Nguema Mbasogo, who took power the same year. He won another five-year term in 2012. He’s survived in power during a 27-year conflict…

Angola’s central bank leaves key interest rate unchanged at 12% in February

Posted on by The Editorial Team

Luanda, Angola, Capital Markets in Africa — National Bank of Angola (BNA, Banco Nacional de Angola) kept the Basic Interest Rate unchanged at 12.00 percent, to maintain price stability, and taking into account the economic outlook. In addition, the Interest Rate Standing Facility Liquidity Lending and the Interest Rate Standing Facility Liquidity Absorption to seven days remained unchanged at 14.00 percent and 1.75 percent respectively, the BNA stated in the press release. Regarding evolution of…

National Bank of Angola Raises BNA Rate by 1% to 12.00% in January

Posted on by The Editorial Team

Luanda, Angola, Capital Markets in Africa — National Bank of Angola (BNA, Banco Nacional de Angola) Monetary Policy Committee (CPM) raised the Basis Interest Rate (BNA rate) by 100 basis points to 12.00%, to curb inflation pressure and to support the weakening Angolan kwanza amid declining oil revenues. Furthermore, the CPM increase the Marginal Lending Rate by 100 basis points from 13.00% to 14.00% and retained the seven-day maturity Liquidity Absorbing Rate at 1.75 percent….

Angola’s central bank hikes benchmark interest rate to 11.00% in December

Posted on by The Editorial Team

Luanda, Angola, Capital Markets in Africa — National Bank of Angola (BNA, Banco Nacional de Angola) Monetary Policy Committee (CPM) held a meeting on 21 December 2015, its 51st ordinary session and decided to increase the Basis Interest Rate to 11.00% from 10.50%, to maintain price stability, and taking into account the economic outlook. Furthermore, the CPM increase the Marginal Lending Rate from 12.5% to 13% but reduce the Overnight Liquidity Absorbing Rate from 1.75% to…

Angola cuts budget by 50% as oil prices fall

Posted on by The Editorial Team

Luanda, Angola, Capital Markets in Africa — The government of Angola, sub-Saharan Africa’s second-largest crude producer, cut spending by half this year following a plunge in oil prices. Vice President Manuel Vicente who made the announcement said the country has reduced public investment by 53 percent. Oil prices have slumped by more than half since June, threatening Angola, which relies on crude for almost all of its exports and more than two-thirds of government income….

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