Angola’s central bank to authorise housing and consumer loan institutions

9 July 2010

Luanda, Angola, 9 July – The National Bank of Angola is due soon to authorise financial institutions specialising in housing and consumer loans to operate in the market, the governor of the central bank said Thursday in Luanda.

Speaking at the opening session of a seminar on “Financial Education,” Abraão Gourgel said it was essential for the country to have financial institutions specialised in real estate loans as they contributed to improving housing conditions for families.

These specialised institutions, he noted, also served to help the government to gather resources for basic sanitation projects, construction of housing facilities, railways and roads, amongst others.

He added that the appearance and development of financial institutions specialised in consumer loans should also be encouraged to the majority of citizens access to long-lasting consumer goods.

“The development strategy for the financial system in Angola aims to encourage the creation of institutions that provide medium and long term loans and of other entities that are propitious to social and economic integration, as well as increasing participation in the gross domestic product,” he said. (macauhub)