Regulatory Alerts2023-06-28
Authorization for the Establishment of Microcredit Societies and Credit Cooperatives (Notice No. 04/2023)
The Bank of Angola issued Notice No. 04/2023 to simplify the establishment and operational requirements for Microcredit Societies, Credit Cooperatives, and Microcredit Operators. The regulation mandates prior authorization from the Bank of Angola, detailing specific capital thresholds, documentation submissions, and a streamlined application procedure through designated forms. It further establishes special registration rules, operational commencement protocols, and final provisions governing document validity, legal repeals, and dispute resolution.
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