Government of Angola resolves delayed transfers, says minister Manuel Nunes Júnior

21 January 2020

Angola has already succeeded in solving all delayed transfers for payment of goods and services abroad, the Minister of State and for Economic Coordination, Manuel Nunes Júnior said on Monday in London, quoted by Angolan news agency Angop.

The minister, who did not specify the amount of external debt paid by the government, said that this had been achieved in the last two years (2018 and 2019), noting that it is now possible for investors to transfer dividends at the right time.

Nunes Júnior, speaking on the sidelines of the opening ceremony of the UK-Africa Investment Summit, at which he is representing President João Lourenço, once again gave assurances that all the problems related to repatriation of dividends, in Angola, “are resolved.”

“Currently, importers, and all those who need to acquire goods overseas for production in the country, are able to buy the currency they need, when they need it, due to the reforms introduced in the foreign exchange market,” he said.

The minister also said that the actions of the Angolan government had allowed that currency to settle at its true value, “which is an important sign for investors,” and noted the gap between the official exchange rate and the black market rate, which in 2017 was 150%, wand is now no more than 23% against the dollar and 18% against the euro.

The Angolan delegation at the London Summit includes, in addition to Nunes Júnior, the minister of Finance, Vera Daves, the Minister of Mineral Resources and Oil, Diamantino Azevedo, the governor of the National Bank of Angola, José de Lima Massano and the ambassador of Angola in the United Kingdom, Geraldo Sachipengo Nunda. (macauhub)