Foreign companies need no authorisation from the National Bank of Angola to repatriate profits of up to US$5 million

3 December 2018

Foreign companies operating in Angola can repatriate profits from their activities up to US$5 million dollars without prior authorisation from the National Bank of Angola (BNA), said José de Lima Massano.

The governor, who then presented the balance sheet for the third quarter of the Macroeconomic Stabilisation Programme for 2018, said that there was a single case of repatriation of profits in which the BNA was involved, and a timetable has been established, taking into account the values involved.

Lima Massano said that despite the improvements already seen in foreign exchange operations involving companies, commercial banks and the central bank, the BNA is revising the rules to make them easier and safer.

In this regard, the governor said that the BNA has been carefully monitoring the actions of commercial banks in terms of providing foreign currency to economic operators.

“We have been carrying out sales more regularly and in November, for example, we made US$850 million available so that operations can be carried out with less difficulty,” he said.

Finance Minister Archer Mangueira said that the government could make timely adjustments to the Customs Tariff that came into force last August to protect domestic production and boost exports. (macauhub)