Regulatory Alerts2024-12-18
Notice No. 04/2024 of December 16 on the Minimum Share Capital of Non-Bank Financial Institutions
The National Bank of Angola issues Notice No. 04/2024 to establish and revise the minimum share capital requirements for non-bank financial institutions, including exchange offices, microfinance entities, credit cooperatives, and payment service providers. The regulation mandates fully paid-up capital ranging from Kz 5 million for microcredit societies to Kz 2.5 billion for credit guarantee societies, with specific tiered thresholds for payment service providers based on their operational scope. Furthermore, it authorizes capital increases through new share issuance or audited reserves, mandates special liquidity reserves for payment providers, and revokes conflicting prior regulations to ensure compliance under the General Regime for Financial Institutions Law.