Regulatory Alerts2025-02-07
Notice No. 09/2024 of 20 December – Special Housing and Construction Credit Regime
The Bank of Angola issued Notice No. 09/2024 to replace the previous special housing and construction credit framework, introducing updated eligibility criteria, financing caps, and cost regulations for supervised Banking Financial Institutions. The notice establishes a maximum housing credit limit of Kz 150 million with a 7% annual interest rate ceiling, while capping construction credit for housing and tourism or restaurant projects at Kz 150 million and Kz 200 million respectively, with a 10% interest rate limit. It mandates rigorous credit risk assessment, restricts mandatory reserve deductions for loans exceeding three-year construction periods or in default beyond 180 days, and requires monthly reporting and public disclosure of credit modalities.