Governador of Angola National Bank says that kwanza has remained stable

30 October 2013

Angola’s currency has remained stable against the US dollar in the last 36 months and the monetary factors that most influence price behaviour are also under control, the governor of the Angola National Bank said recently.

José de Lima Massano gave assurances that the central bank would continue with its mission to protect Angola’s currency, with a view to it contributing to the country’s macroeconomic stability.

Year on year inflation in Angola reached a total of 8.93 percent last September, moving towards a mid-term target of between 7 and 9 percent, which also contributed to reduce the cost of providing credit to the economy.

Lima Massano said that retail banks operating in the country had to work harder on risk assessment structures so that they can provide better support for managing credit and advising operators that make use of their services.

Addressing the companies that have relationships with banks the governor noted that the availability and quality of information about their activities was as critical for a healthy relationship with the bank, as for self evaluation, and continued business growth.

According to the governor of the Angolan central bank, that relationship, “is useful for managers, shareholders, workers and society, whatever its size, whatever its business sector.” (macauhub)