Foreign credit lines should be channelled through Angolan banks, says chairman of industrial association

20 June 2012

Foreign credit lines should be required to be channelled through Angola commercial banks in order to make the Angolan banking system stronger, the chairman of the Industrial Association of Angola (AIA), José Severino said in Luanda.

“It is salutary that foreign loans, particularly from the People’s Republic of China, be channelled through national banks because that would make our banking system stringer and more agile in terms of relations between Chinese and Angolan companies,” the AIA chairman said speaking to Angolan news agency Angop.

According to Severino, “if Chinese funding came in through Angolan banks our banks would also be capable of financing Chinese companies operating in Angola, given that currently there are externally funded.” (macauhub)