Angola: lending & credit regulation

Who regulates

• Banco Nacional de Angola (BNA)

  Primary supervisor of banking and non-banking financial institutions, including credit granting, prudential requirements, and credit information systems.

  ^{[1][2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27][28][29][30][31][32][32][33][34][35][36][37][38][39][40][41][42][43][44][45][46][47][48][49][50][51][52][53][54][55][56][57][58][59][60][61][62][63][64][65][66][67]}

Core laws & rules

• Notice No. 10/2024 (Credit Concession to the Real Economy Sector) (2024)

  Revises and expands the scope of credit concession to the real economy, broadening eligible goods and services, mandating strict access criteria, and capping total credit costs.

  ^[5][3]

• Notice No. 09/2024 (Special Housing and Construction Credit Regime) (2024)

  Establishes a special credit scheme for housing and real estate construction, capping mortgage interest rates at 7% and construction loan rates at 10%, with updated eligibility and financing caps.

  ^[4][7][9]

• Notice No. 08/2024 (Microfinance Financial Institutions) (2024)

  Establishes comprehensive operating rules and prudential requirements for Microfinance Financial Institutions, including a minimum Regulatory Solvency Ratio of 12% and a leverage ratio of 3%.

  ^[6]

• Notice No. 06/2023 (Microcredit Societies) (2023)

  Establishes operational rules for Microcredit Societies and Operators, defining permissible services, financing sources, and prudential supervision standards.

  ^[11]

Licensing & registration

• Banking Financial Institutions

  Subject to BNA supervision, including prudential requirements, credit risk governance, and reporting to CIRC.

  ^[5][3]

• Microfinance Financial Institutions

  Requires authorization and adherence to a minimum Regulatory Solvency Ratio of 12% and a leverage ratio of 3%. Capital: 12% Regulatory Solvency Ratio

  ^[6]

• Microcredit Societies

  Requires authorization and adherence to operational rules defined in Notice No. 06/2023.

  ^[11]

• Credit Guarantee Companies

  Requires authorization and a minimum 10% Regulatory Solvency Ratio. Capital: 10% Regulatory Solvency Ratio

  ^[29]

• Factoring Companies

  Requires authorization and a minimum fully paid share capital of 50 million Kwanzas. Capital: 50 million Kwanzas

  ^[49]

Restrictions & warnings

• Interest rate caps: 7% for housing loans and 10% for construction loans (until mid-2027); total credit cost capped at 7.5% for real-economy investments and 10% for working capital.

  ^{[4][9][17][18]}

• Mandatory credit allocation: Banks must allocate specific percentages of assets to credit for essential national goods (e.g., agriculture, textiles).

  ^[5][3][12]

• Foreign currency loan conversion: Banks must convert foreign currency housing and retail loans for individuals without local income into national currency.

  ^[40]

• Credit reporting: Mandatory monthly/weekly reporting of credit liabilities to the Credit Risk Information Center (CIRC).

  ^[13][30]

• Qualified participations: Credit extensions to holders of qualified participations are capped at 20% of basic own funds.

  ^[33]

Direction of travel

• Regulatory focus remains on supporting the real economy, particularly agriculture and housing, while maintaining strict prudential oversight and interest rate controls.

  ^[5][4]

• Recent measures include financial relief for natural disaster-affected borrowers and expanded credit access criteria for the real economy.

  ^[1][2]

Sources

1. Circular Letter No. 01/2026, dated May 5 · 2026-05-07
2. Instruction No. 01/2026 of April 24 · 2026-04-24
3. Notice No. 02/2026, of February 12 · 2026-02-12
4. Notice No. 09/2024 of 20 December – Special Housing and Construction Credit Regime · 2025-02-07
5. Notice No. 10/2024 of 20 December on Credit Concession to the Real Economy Sector · 2025-02-07
6. Notice No. 08/2024 on Operating Rules and Prudential Requirements for Microfinance Financial Institutions · 2024-12-20
7. Notice No. 09/2024 Establishing the Special Credit Scheme for Housing and Real Estate Construction in Angola · 2024-12-20
8. Circular Letter No. 01/2024 · 2024-01-26
9. Notice No. 09/2023 of August 3 on Housing Credit · 2023-08-03
10. Circular Letter No. 06/2023 dated August 2 · 2023-08-02
11. Notice No. 06/2023: Operational Rules for Microcredit Societies · 2023-06-28
12. Circular Letter No. 03/2023 on Credit Concession to the Real Economy – Textile Industry · 2023-03-17
13. Directive No. 01/GAC/2023 · 2023-01-13
14. Circular Letter No. 06/2022, dated August 3 · 2022-08-04
15. Instruction No. 08/2022, of August 1 · 2022-08-01
16. Directive No. 04-GAC-2022 on Reporting Information for Special Housing and Construction Credit · 2022-04-22
17. Notice No. 10/2022 of April 6 on the Granting of Credit to the Real Sector of the Economy · 2022-04-07
18. Notice No. 09/2022 of April 6 · 2022-04-07
19. Directive No. 13/DSB/DRO of 2021 · 2021-11-22
20. Circular Letter No. 05/DCF/2021 – Financial System: Goodness Declaration in Income Domiciliation Process · 2021-08-01
21. Directive No. 05/DSB/DRO/2021 on Reporting Credits Granted to Holders of Qualified Participations · 2021-05-05
22. Notice No. 06/2021 of 14 April on Credit Concession to the Real Economy · 2021-04-14
23. Guideline No. 05/2021 of February 26 · 2021-02-26
24. Notice 01/2021 (February 12) on the Credit Risk Information Center · 2021-02-12
25. Directive No. 01/DRO/2021, dated January 6 · 2021-01-05
26. Instruction No. 21/2020 of December 23 · 2020-12-22
27. Directive No. 01/DSB/2020 on Property Valuation · 2020-10-29
28. Notice No. 19/2020 of August 21 on Operational Rules for the Credit Guarantee Fund · 2020-08-21
29. Notice No. 20/2020 of August 21 on Operational Rules for Credit Guarantee Companies · 2020-08-21
30. Instruction No. 13/2020 of July 17 on the Functioning of the Credit Risk Information Center · 2020-07-16
31. Instruction No. 07/2020 of April 20 · 2020-04-19
32. Instruction No. 04/2020 of March 30 – Financial System: Flexibility in Deadlines for Credit Obligations · 2020-03-30
33. Notice No. 06/2020, dated March 10: Credit Concessions to Holders of Qualified Participations · 2020-03-09
34. Directive No. 13/DSB/DRO/2019: Guide on AQA Methodology Implementation Recommendations for the 2019 Fiscal Year · 2019-12-26
35. Instruction No. 14/2019 of September 6: Chart of Accounts for Banking Financial Institutions · 2019-09-06
36. Notice No. 05/2019 of August 30 on the Financial System: Accounting Standardization and Harmonization for the Angolan Banking Sector · 2019-08-30
37. Instruction No. 04-2019 of April 26 · 2019-04-25
38. Notice No. 04/2019 on Credit Concession to the Real Economy Sector · 2019-04-03
39. Directive No. 03/DEE/DSB/DRO-2019, dated March 28 · 2019-03-27
40. Instruction No. 18/2018 of November 28, 2018: Conversion of Foreign Currency Loans to Individuals · 2018-11-27
41. Instruction No. 11/2018 on Interbank Money Market Liquidity Lending by Development Banks · 2018-09-10
42. Instruction No. 25/2016 of November 16 on Credit Risk Governance · 2016-11-16
43. Notice No. 14/2016, September 5: Information Duties in Credit Contracts · 2016-09-05
44. Notice No. 04/2016 on Regulatory Capital Requirements for Market Risk and Counterparty Credit Risk in the Trading Book · 2016-06-22
45. Notice No. 03/2016 of June 16: Regulatory Capital Requirements for Credit Risk and Counterparty Credit Risk · 2016-06-16
46. Instruction No. 25/2016 of 16 November on Credit Risk Governance · 2016-01-15
47. Notice No. 11/2014, 17 December: Specific Requirements for Credit Operations · 2014-12-17
48. Notice No. 16/2012 of April 3 · 2012-04-03
49. Notice No. 15/2012 of April 3 · 2012-04-03
50. Notice No. 08/2012 of March 30 · 2012-03-30
51. Notice No. 04/2012 of March 28 · 2012-03-28
52. Notice No. 03/2012 of March 28 on the Regulation of Credit Granting and Classification by Financial Institutions · 2012-03-28
53. Notice No. 15/2011 of December 19 · 2011-12-19
54. Notice No. 05/2011 of June 29 – Prudential Rules for Credit Cooperatives · 2011-06-29
55. Notice No. 04-2011 of June 8, 2011 · 2011-06-08
56. Bank of Angola Notice No. 02/2010 Establishing the Credit Information and Risk Center · 2010-10-20
57. Banco Nacional de Angola Notice No. 01/2010 of October 4 · 2010-10-04
58. Notice No. 05/96 of 17 April · 1996-04-17
59. Notice No. 06/96 of April 17 · 1996-04-17
60. Notice No. 03/95 · 1995-06-20
61. Directive No. 6/DSB/94 · 1994-12-27
62. Instruction No. 13-1994 of November 18 · 1994-11-17
63. Notice No. 09/93 dated September 10 · 1993-09-10
64. Directive No. 01/DSB/93: Public Sale of Foreign Exchange · 1993-02-01
65. Notice No. 4/92 · 1992-07-20
66. Directive No. 1/DSB/92: Financial Applications - Overdue Credit · 1992-05-25
67. Notice No. 02/91 of October 16, 1991 · 1991-10-16