Regulatory Alerts2012-04-03
Notice No. 15/2012 of April 3
The Banco Nacional de Angola issued Notice No. 15/2012 to regulate the establishment and operation of financial assignment (factoring) companies, mandating a minimum fully paid share capital of 50 million Kwanzas and comprehensive application requirements including shareholder identification, criminal records, and a three-year business plan. The regulation establishes strict operational parameters, including solvency ratios, investment limits, credit risk classification, and mandatory external audits, while imposing quarterly reporting obligations via the Financial Institutions Supervision System. Non-compliance with information deadlines incurs daily fines calculated as a fraction of the minimum share capital, ensuring continuous regulatory oversight and financial stability within Angola's factoring sector.