Africa Financial Sector Responses to COVID-19 - Angola

Jul 28, 2020

As a Partnership committed to the African financial sector (AFS) development and resilience, Making Finance Work for Africa (MFW4A) has implemented a number of recent initiatives to strengthen the resilience of the African financial sector.

In addition to its webinars series and discussions aimed at identifying the sector's difficulties and solutions, a portal dedicated to domestic and international responses to the impact of COVID-19 on the regional financial sector has been set up.  The exercise consists in monitoring, collecting and classifying by country or region the measures taken by governments, central banks and DFIs in in support of the AFS vis-à-vis the financial impact of the pandemic. 

This page presents measures and initiatives by the Angolan government, national central bank and Development Finance Institutions (DFIs) in support of a resilient domestic financial sector facing the effects of the COVID-19 pandemic.

Disclaimer: This page contains information and links from third parties. These links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by MFW4A.

Instrument

Institution

Financing volume

Description

Monetary policy and liquidity facility

National Bank of Angola

 USD 186 million

(April 15, 2020) A series of monetary policy measures, including : 
* The reduction of the interest rate on the seven-day liquidity absorption facility from 10% to 7% ;
* The establishment of a liquidity facility of up to 100 billion (Kz) kwanza (USD 186 million) for the acquisition of government securities held by non-financial corporations.

Multilateral loan

African development bank

USD 40 million

(April 30, 2020) The facility will enable Banco Millennium Atlântico (BMA) to finance the expansion needs of small and medium-sized enterprises (SMEs) with high growth potential and operating mainly in agriculture, agro-industry and domestic production.

Monetary policy National Bank of Angola N/A

(May 07, 2020) Strengthening monetary policy by :
* Activating the overnight lending facility, with a maximum of 100 billion Kz (186 million USD), renewable every three months, non-cumulative, during fiscal year 2020;
* The inclusion of large companies in the productive sector in the discount facility for public securities with a limit of 100 billion Kz, initially intended only for small and medium enterprises.