Notice No. 10/2015 of June 8: Exchange Rate Policy - Entry and Exit of Currency in the Santa Clara (Angola) and Oshikango (Namibia) Border Zone

Published in the Official Gazette, 1st Series, No. 88, of June 29

NOTICE No. 10/2015

SUBJECT: EXCHANGE RATE POLICY

• Entry and Exit of Currency in the Santa Clara (Angola) and Oshikango (Namibia) Border Zone

Considering that, with the signing of the Monetary Conversion Agreement between the National Bank of Angola and the Bank of Namibia, the reciprocal acceptance of legal tender in the Republic of Angola and the Republic of Namibia is facilitated, and their convertibility is guaranteed before institutions legally authorized to carry out exchange operations in both countries;

Given the need to define the framework of rules and procedures that fiscal residents and non-residents must obey regarding the transport of national and foreign currency on trips between Angola and Namibia, using the Santa Clara and Oshikango land border;

In these terms, and in the exercise of the competence conferred upon me by item f) of paragraph 1 of Article 51 of Law No. 16/10, of June 15, the Law of the National Bank of Angola, and paragraph 2 of Article 28 of Law No. 5/97, of June 27, the Exchange Law;

I DETERMINE:

Article 1. (Object and Scope)

1. This Notice establishes the terms and conditions for the entry and exit of national and foreign currency, within the national territory, in the possession of natural persons, fiscal residents and non-residents, who are destined to or coming from the Republic of Namibia, using the Santa Clara (Cunene - Angola) and Oshikango (Namibia) land border.
2. The rules established in this Notice for natural persons who are fiscal residents apply to all national citizens, regardless of their residence.

CONTINUATION OF NOTICE No. 10/2015 Page 2 of 4

Article 2. (Limit on Exit of Currency for Fiscal Residents)

1. Natural persons who are fiscal residents may transport national currency whose value does not exceed the amount of: a) Kz 500,000.00 (five hundred thousand kwanzas), for persons over 18 years of age. b) Kz 150,000.00 (one hundred and fifty thousand kwanzas), for persons under 18 years of age.
2. In situations where natural persons who are fiscal residents, in addition to national currency, transport foreign currency, the total value transported must not exceed the limits in foreign currency established in specific regulation on the entry and exit of cash from the Country, currently corresponding to: a) USD 15,000.00 (fifteen thousand US dollars), for persons over 18 years of age; b) USD 5,000.00 (five thousand US dollars), for persons under 18 years of age.
3. In the event of a change in the limits on the entry and exit of foreign currency from the Country, for natural persons who are fiscal residents, established in specific regulation, the values indicated in items a) and b) of the previous paragraph of this article are considered automatically adjusted.

CONTINUATION OF NOTICE No. 10/2015 Page 3 of 4

Article 3. (Limit on Exit for Non-Fiscal Residents)

1. Natural persons who are non-fiscal residents may transport national currency whose value does not exceed the amount of: a) Kz 250,000.00 (two hundred and fifty thousand kwanzas), for persons over 18 years of age. b) Kz 50,000.00 (fifty thousand kwanzas), for persons under 18 years of age.
2. In situations where natural persons who are non-fiscal residents, in addition to national currency, transport foreign currency, the total value transported must not exceed the limits in foreign currency established in specific regulation on the entry and exit of cash from the Country, currently corresponding to: a) USD 10,000.00 (ten thousand US dollars), for persons over 18 years of age; b) USD 3,000.00 (three thousand US dollars), for persons under 18 years of age.
3. In the event of a change in the limits on the entry and exit of foreign currency from the Country, for natural persons who are non-fiscal residents, established in specific regulation, the values indicated in items a) and b) of the previous paragraph of this article are considered automatically adjusted.
4. Exempt from the provisions of the previous paragraphs are natural persons who are non-fiscal residents who, upon entry into the national territory, have filled out the declaration referred to in Article 4 of this Notice and who, at customs services, present the duplicate of said declaration, the value to be transported must not exceed the amount declared upon entry.

CONTINUATION OF NOTICE No. 10/2015 Page 4 of 4

Article 4. (Entry of Foreign Currency) The transport of foreign currency upon entry into the national territory by natural persons who are fiscal residents and non-residents coming from the Republic of Namibia is not subject to limits, however the value transported must be declared by filling out the "Declaration of Entry and Exit of Currency", established in specific regulation on the entry and exit of cash from the Country, when it exceeds the amounts defined in Articles 2 and 3 of this Notice.

Article 5. (Sanctions) Violations of the provisions of this Notice are punishable under the terms of Law No. 5/97, of June 27, the Exchange Law, and other applicable legislation, without prejudice to any criminal liability that may apply.

Article 6. (Entry into Force) This Notice enters into force on June 18, 2015.

PUBLISH Luanda, June 8, 2015

THE GOVERNOR JOSÉ PEDRO DE MORAIS JÚNIOR