Regulatory Alerts2019-08-30
Notice No. 06/2019 of August 30 on Microcredit Societies
The Bank of Angola, through Governor José de Lima Massano, amends Articles 2 and 6 of Notice No. 08/12 to redefine microcredit as loans up to seven million Kwanzas granted to small entrepreneurs on individual or joint liability bases. The revised provisions establish credit limits at eight percent of regulatory own funds for individual clients and twenty-five percent for legal entities or groups, while explicitly permitting microcredit societies to provide consulting services and grant guarantees. This Notice repeals the prior text of Articles 2 and 6 and enters into force upon its publication in the Official Gazette.
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