Regulatory Alerts2023-03-17
Circular Letter No. 03/2023 on Credit Concession to the Real Economy – Textile Industry
The National Bank of Angola issued Circular Letter No. 03/2023 to expand the scope of Notice No. 10/2022 regarding credit grants to the real economy. The directive mandates Banking Financial Institutions to classify activities across the entire textile sector—including cotton cultivation, processing, fabric manufacturing, and finished garment production—as essential goods eligible for targeted credit. This clarification aligns financial sector lending with Angola’s economic diversification objectives by explicitly incorporating textile value chain operations into existing regulatory frameworks.
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