Angolan government capitalises central bank with US$1 billion

19 April 2012

The Angolan government decided on Wednesday to capitalise the Banco Nacional de Angola by transferring the amount of 95 billion kwanzas (US$1 billion) in treasury bonds to its public securities portfolio, indicates a statement from the Council of Ministers.

Cited by Angolan news agency Angop, the communiqué from the first extraordinary Council of Ministers meeting in 2012 explains that the decision aims to ensure that the central bank has available means of payment and also to control rising prices by lowering the circulating money supply.

The Council of Ministers also approved a decree establishing the Active Angolan Risk Capital Fund (FACRA), meant to finance micro, small and medium sized companies and promote business activity and innovation in projects of strategic importance for Angola which have high risk potential and are beginning operations. (macauhub)